(a) All certificates of license or registration to engage in performing the services of a contractor as defined under § 17-25-101 in the State of Arkansas shall expire at 12:00 midnight on the day before the anniversary date of issuance unless otherwise designated by the Contractors Licensing Board, and all certificates of license or registration shall become invalid on that day unless renewed.
(b) A registration may be renewed for a period of one (1) year, two (2) years, or three (3) years with the fee of one hundred dollars ($100) per year.