Upon payment to the board of a fee set by the board and the submission of a written application on forms provided by the board, the board shall issue a license without examination to:
(1) An individual who is qualified within the meaning of this article as a physical therapist by another state of the United States of America, its possessions, or the District of Columbia, if the requirements for licensing or registration in such state, possession, or district were at the date of his or her licensing or registration by that state substantially equal to the requirement for the initial licensing of individuals practicing physical therapy when this article became effective, August 20, 1965, or for licensing by examination prepared by the professional examining service as set forth in this article and any additional requirements prescribed by the board.
(2) An individual who is qualified within the meaning of this article as a physical therapist assistant by another state of the United States of America, its possessions, or the District of Columbia, if the requirements for licensing in such state, possession, or district were at the date of his or her licensing by that state substantially equal to the requirements set forth in this article.