(1) The Teacher Standards and Practices Commission may issue a license to an out-of-state applicant if the applicant has met the professional requirements established by rule by the commission and has completed a course of study that is acceptable to the commission.
(2) Applicants granted licenses under this section shall be required to meet all standards required of Oregon teachers, including the requirements of ORS 342.123, not later than two years following the date of initial granting of the license.