The board shall prescribe and promulgate the following fees by rule pursuant to chapter 1-26:

(1) Initial license fee;

(2) Renewal of license fee;

(3) Late renewal fee; and

(4) Limited permit fee.

These fees shall be sufficient to cover the activities and responsibilities of the board but may not exceed the sum of fifty dollars.

Source: SL 1986, ch 323, § 12; SL 2008, ch 191, § 70.