(1) The licensing requirements for a home inspector may be waived for a person moving to Kentucky from another jurisdiction, and the person may be granted a license as a home inspector if:
(a) The other jurisdiction grants the same privileges to licensees of Kentucky as Kentucky grants to licensees of that other jurisdiction;
(b) The person is licensed in the other jurisdiction;
(c) The licensing requirements of the other jurisdiction are determined by the board to be substantially similar to the requirements of KRS 198B.700 to 198B.738; and (d) The person states that he or she has studied, is familiar with, and will abide by KRS 198B.700 to 198B.738 and the administrative regulations promulgated by the board.
(2) A person seeking a license as a home inspector under this section shall:
(a) Apply on a form prescribed and provided by the board; and (b) Pay the applicable licensing fee established by the board.