Term of license -- Expiration -- Renewal.

(1) The division shall issue a license under this chapter in accordance with a two-year renewal cycle established by rule. (2) The division may, by rule, extend or shorten a renewal cycle by as much as one year to stagger the renewal cycles it administers. (3) A license automatically expires on the expiration date shown on the license unless the licensee renews it in accordance with Section 58-1-308.