(a) No school or college of barbering shall be approved by the State Board of Barber Examiners and no license shall be issued to operate or conduct any school or college of barbering until the applicant pays the initial license fee of five hundred dollars ($500). Thereafter the school or college shall pay an annual renewal fee of one hundred fifty dollars ($150).
(b) Other fees applicable to barber schools or colleges are:
(1) Teacher manager instructor examination $80.00
(2) Teacher manager instructor license 40.00
(3) Restoration of a teacher manager instructor license 48.00.