(1) The Oregon Board of Accountancy may issue a certified public accountant license to a person who is licensed in good standing as a certified public accountant in another state and who:
(a) Submits an application in a form prescribed by the board;
(b) Passes an examination on the code of professional ethics adopted by the board;
(c) Pays the fee required by the board by rule; and
(d) Provides evidence satisfactory to the board of one of the following:
(A) That the certified public accountant license held by the person is issued by a state that has licensing requirements that are substantially equivalent to the Oregon certified public accountant initial licensure requirements; or
(B) That the person has been practicing as a certified public accountant for a period of four years or more within the last 10 years immediately preceding the person’s application for an Oregon certified public accountant license.
(2) A license issued under this section expires every two years. To renew a certified public accountant license, a person shall comply with the requirements described in ORS 673.150.