Any license issued pursuant to this chapter shall be renewed annually on or before the thirty-first day of December. The renewal shall be issued by the board upon payment of the fee set by rule, promulgated by the board pursuant to chapter 1-26, not exceeding the sum of three hundred dollars. The renewal license shall be in the form of a receipt acknowledging payment of the required fee and signed by the executive secretary of the board.
SDCL 36-5-14.1