Section 87CC. The fees for a license issued by the board, or for any renewal thereof, shall be determined by the secretary of administration and finance under section 3B of chapter 7. The director of professional licensure shall determine the renewal cycle and renewal period for all licenses issued by the board. Persons licensed in accordance with sections 87T to 87JJ, inclusive, shall apply to the board for renewal of their licenses on or before the expiration date, as determined by the director, unless such license was earlier revoked, suspended or cancelled as a result of a disciplinary proceeding instituted under this chapter. Applications for renewal shall be made on forms approved by the board and accompanied by payment of a renewal fee, as determined by the secretary of administration and finance under said section 3B of said chapter 7. All licensing and application fees and civil administrative penalties collected under sections 87T to 87JJ, inclusive shall be deposited into the Division of Professional Licensure Trust Fund established in section 35V of chapter 10.