§436B-15.5  Conversion of license.  (a) 
Notwithstanding any other provision of law to the contrary, a licensee who has
converted its form of business entity in accordance with sections 414-271,
414D-207, 415A-16.5, 425E-1102, and 428-902.5, and desires to continue engaging
in a profession or vocation subject to this chapter in its new form of business
entity shall:



(1)  File an application for conversion of a license
and pay the initial application fee specified in the statutes or rules of the
profession or vocation, within thirty calendar days after the effective date of
the conversion; and



(2)  Continue to meet the other licensing requirements
of that profession or vocation.



(b)  Failure to comply with the requirements of
this section shall cause the license to be automatically forfeited.  A licensee
whose license is forfeited shall not engage in the profession or vocation until
the license is restored or the licensee obtains a new license. [L 2001, c 149,
§1; am L 2003, c 210, §11]