Subject to the limitations in this section, the Board may waive any of the qualifications for a journey plumber license or a master plumber license for an individual who holds a journey plumber license or a master plumber license issued by Baltimore County or by the Washington Suburban Sanitary Commission. The Board may grant a waiver under this section only if the applicant: pays the appropriate license fee required under § 12-306 of this subtitle; holds a license that is similar to the license for which the applicant is seeking a waiver; if contracting to provide plumbing services in the name of the applicant or another person, submits proof of the liability insurance as required under § 12-501 of this title; and provides adequate evidence that the applicant: meets the qualifications otherwise required by this subtitle; and at the time that the applicant became licensed in Baltimore County or by the Washington Suburban Sanitary Commission, the applicant: passed an examination that was given by Baltimore County or the Washington Suburban Sanitary Commission and was substantially equivalent to the examination that then was required by the Board; and met qualifications for licensing that were set by Baltimore County or the Washington Suburban Sanitary Commission and were substantially equivalent to the qualifications that then were required by the Board. Subject to paragraph (2) of this subsection, the Board may grant a waiver of the qualification and examination requirements of § 12-302 of this subtitle only if Baltimore County or the Washington Suburban Sanitary Commission waives the qualifications and examination required for individuals licensed by the Board to a similar extent as the Board waives those requirements for individuals licensed by Baltimore County or the Washington Suburban Sanitary Commission. An agreement may be made with Baltimore County that, if an individual who is licensed by the Board as a journey plumber or a master plumber resides in Baltimore County, the individual may be required to pass a licensing examination for a journey plumber or master plumber given by Baltimore County.