The board may grant an individual whose principal place of business is outside this State the privilege to perform or offer to perform services in this State as a certified public accountant if the individual meets all of the following conditions:

1. (1) holds a valid and unrevoked license or permit to practice as a certified public accountant issued by another state, a territory of the United States, or the District of Columbia and that jurisdiction's requirements for licensure are substantially equivalent to the requirements of this chapter;
2. (2) notifies the board that the person intends to perform or offers to perform services in this State as a certified public accountant;
3. (3) agrees to comply with the provisions of this section and the regulations promulgated regarding notification and practice;
4. (4) lists all jurisdictions, foreign and domestic, in which the applicant has applied for or holds a designation to practice public accountancy, and each holder of a certificate issued under this section shall notify the board in writing within thirty days after its occurrence of any issuance, denial, revocation, or suspension of a designation or commencement of a disciplinary or enforcement action by any jurisdiction;
5. (5) consents to have an administrative notice of hearing served on the board in the individual's principal state of business;
6. (6) files an application and pays an annual fee sufficient to cover the cost of administering this section.