Each licensee entitled to renew his license on or after February 28, 1980, shall, when so renewing his license pay in addition to the applicable license fee a further fee of $10, which shall be paid and credited to the Real Estate Recovery Fund, thereafter any person upon receiving his initial real estate license or cemetery company registration certificate, shall, in addition to all fees, pay into the Real Estate Recovery Fund a sum of $10. If at the commencement of any biennial renewal period beginning in 1982 and thereafter, the balance of the fund is less than $300,000, the commission may assess an additional fee, in addition to the renewal fee, against each licensee and registrant in an amount not to exceed $10 which will yield revenues sufficient to bring the balance of the fund to $500,000. All said fees shall be paid into the State Treasury and credited to the Real Estate Recovery Fund, and said deposits shall be allocated solely for the purposes of the fund as provided in this act. The fund shall be invested and interest/dividends shall accrue to the fund.