(1) Upon the loss, mutilation, or destruction of any license issued by the director, the sales agent shall submit a written request to replace the license to the director.

(2) The request for a duplicate license must be accompanied by a statement signed under oath or penalty of perjury stating the details of the circumstances under which the license was lost, mutilated, or destroyed, and bearing a certification that the license was, in fact, lost, mutilated, or destroyed.

(3) The request for a duplicate license must be accompanied by a nonrefundable fee of $25.

(4) The existing pieces of any mutilated or partially destroyed license shall be surrendered to the director at the time a request for a duplicate license is made.

(5) If a licensee finds a lost license after a duplicate has been issued, the licensee shall immediately surrender such license to the director.