(b) The board may grant a license as a graduate registered physician to an applicant who:

1. (1)

   1. (A) Submits an application on forms approved by the board.
   2. (B) The application and licensing fees shall be the same amount as those paid by regular physicians;

2. (2)

   1. (A) Has successfully completed Step 1 and Step 2 of the United States Medical Licensing Examination, Comprehensive Osteopathic Medical Licensing Examination, or the equivalent of both steps of a board-approved medical licensing examination within the two-year period immediately preceding application for licensure as a graduate registered physician, but not more than two (2) years after graduation from a medical school, an allopathic medical college, or an osteopathic medical college.
   2. (B) All graduates must have already passed Step 1 and Step 2 of the United States Medical Licensing Examination, Comprehensive Osteopathic Medical Licensing Examination, as well as the COMLEX Cognitive Evaluation and Performance Evaluation prior to graduating from medical school.
   3. (C) Any individual applying for graduate registered physician will be held to the same standards as outlined in 17 CAR §§ 140-301 and 140-901 with regard to the number of pass attempts for each step;
3. (3) Has not completed an accredited postgraduate residency but has successfully completed Step 2 of the United States Medical Licensing Examination or the equivalent of Step 2 from a board-accredited medical licensing examination within the two-year period immediately preceding application for licensure as a graduate registered physician;
4. (4) Has no licensure, certification, or registration under current discipline or revocation, suspension, or probation for cause resulting from the applicant's medical practice, unless the board considers the conditions and agrees to licensure;
5. (5) Enters into a physician-drafted protocol within six (6) months of initial licensure; and
6. (6) Submits to the board any other information that the board deems necessary to evaluate the applicant's qualifications.