Final answer:
License holders should notify the board immediately when their license is lost or misplaced to prevent misuse and to initiate the reissuance process.
Step-by-step explanation:
When a license is lost or misplaced, the standard procedure for many licensing boards is to require the holder to notify the board immediately. This is to ensure that any potential misuse of the license is prevented and to allow the board to take the necessary steps for replacing or reissuing a new license. Immediate notification is also important for the protection of the license holder, as it helps to mitigate any possible legal or professional issues that may arise from the loss. The process involves filling out specific forms and possibly providing a written statement detailing the circumstances of the loss.