Any permanent policeman accepting the provisions hereof who shall resign or be dismissed from service before becoming eligible for retirement and the estate or designated beneficiary of any such permanent policeman who may die before becoming eligible for retirement, not as the result of an injury received in line of duty, shall be entitled to receive from the retirement fund all payments made thereto by him, without interest, and minus a fixed charge as the board may prescribe. Upon resignation or dismissal from service a permanent policeman shall no longer be obligated to pay assessments to the retirement fund. Any permanent policeman, resigned or dismissed from service as aforesaid may, if he thereafter reenters service as a permanent policeman, be reinstated to the benefits hereunder upon payment to the board of all assessments which might have been assessed against him from the date of his original acceptance hereof to his resignation or dismissal and upon reinstatement he shall thereafter make the payments to the retirement fund prescribed by the board under N.H. Rev. Stat. § 103:7.