The board may endorse a nursing facility administrator license issued by any other state, upon payment of the new applicant fee, and upon submission of evidence satisfactory to the board that:
(1) Such other state maintained a system and standard of qualifications and examinations for a nursing facility administrator license which were substantially equivalent to those required in this state at the time such other license was issued by such other state.
(2) The individual applicant has passed the Louisiana State Standards Examination.