(a) The board as provided by board rule may issue a physician-in-training permit to a physician not otherwise licensed by the board who is participating in a graduate medical education training program approved by the board.
(b) A physician-in-training permit does not authorize the performance of a medical act by the permit holder unless the act is performed:
(1) as a part of the graduate medical education training program; and
(2) under the supervision of a physician.
(c) The board has jurisdiction to discipline a permit holder whose permit has expired if the violation of the law occurred during the time the permit was valid. If an investigation is open when the permit expires, the permit shall be executory and the board may retain jurisdiction.