The board shall:
(1) adopt rules necessary or proper to administer and enforce this chapter;
(2) adopt rules that specify the scope of practice of naturopathic medicine stated in 37-26-301, that are consistent with the definition of naturopathic medicine provided in 37-26-103, and that are consistent with the education provided by approved naturopathic medical colleges;
(3) adopt rules that set nonrefundable fees for application, and licensure;
(4) approve naturopathic medical colleges as defined in 37-26-103;
(5) issue certificates of specialty practice;
(6) adopt rules that, in the discretion of the board, appropriately restrict licenses to a limited scope of practice of naturopathic medicine, which may exclude the use of minor surgery allowed under 37-26-301; and
(7) adopt rules that contain the formulary list created by the alternative health care formulary committee provided for in 37-26-301.