This section applies only to a health occupations board that does not otherwise have statutory authority to issue licenses or certifications under this article by reciprocity. Subject to subsection (c) of this section, a health occupations board may adopt regulations to establish reciprocity for individuals who are licensed or certified in another state that offers similar reciprocity to individuals licensed or certified by the health occupations board under this article. Regulations adopted by a health occupations board under subsection (b) of this section shall require that an applicant: Be licensed or certified in another state under requirements that the health occupations board determines are substantially equivalent to its licensing or certification requirements established under this article; Be in good standing under the laws of the other state; Submit an application to the health occupations board on a form that the board requires; Pay to the health occupations board an application fee set by the board; and Satisfy any other requirements established by statute or regulations adopted by the health occupations board.