(1) A class 3 administrative license shall be valid for a period of five years.

(2) To obtain a class 3 administrative license an applicant must provide verification of a master's degree in an accredited school administration program or the equivalent and must qualify for one of the endorsements set forth in ARM 10.57.414 through 10.57.419.

(3) A class 3 administrative license shall be renewed upon verification of 60 renewal units earned during the valid term of the license.

(4) A lapsed class 3 administrative license may be reinstated by showing verification of:

(a) 60 renewal units earned during the five-year period preceding the validation date of the new license; or

(b) 120 renewal units earned during the nine-year period preceding the validation date of the new license.