(1) Any license issued under this chapter and not otherwise revoked is deemed "inactive" at any time it is delivered to the director. Until reinstated under this chapter, the holder of an inactive license is prohibited from conducting real estate appraisal services.

(2) An inactive license may be renewed on the same terms and conditions as an active license, except that a person with an inactive license shall pay a reduced renewal fee. Failure to renew shall result in cancellation in the same manner as an active license.

(3) An inactive license may be placed in an active status upon submission of a reinstatement application to include proof of successful completion within one hundred eighty days of application of a fifteen hour course in the uniform standards of professional appraisal practice.

(4) If an appraiser license is inactive for more than eight years, the license shall be canceled in the same manner as an active license.