Upon payment of the appropriate fee and submission and acceptance of a written application on forms provided by the Board:
(1) The Board shall grant a license to each applicant who presents proof of current licensure in “good standing” in another state, the District of Columbia, or territory of the United States, whose standards for licensure are substantially similar to those of this State; and
(2) The Board may grant a license to an applicant who presents proof of current licensure in “good standing” in another state, the District of Columbia, or territory of the United States, whose standards are not substantially similar to those of this state, provided that the applicant shall have practiced in that state for a minimum of 3 years after licensure; and provided further that the applicant would not be prohibited from being licensed pursuant to this chapter because of that applicant’s criminal or administrative record, any impairment related to drugs or alcohol, or mental incompetence.