(a) A pharmacy may not compound and dispense a sterile preparation unless the pharmacy holds a license as required by board rule.
(b) A pharmacy that compounds a sterile preparation shall notify the board:
(1) immediately of any adverse effects reported to the pharmacy or that are known by the pharmacy to be potentially attributable to a sterile preparation compounded by the pharmacy; and
(2) not later than 24 hours after the pharmacy issues a recall for a sterile preparation compounded by the pharmacy.