(1) Any person who, on the effective date of this chapter, possesses NARM for which a specific license is required by the act or this subchapter shall be deemed to possess such a license issued under the act and this subchapter. Such license shall expire 90 days after the effective date of this chapter; provided, however, that if within the 90 days the person possessing such material files an application in proper form for a license, such existing license shall not expire until the application has been finally determined by the department.