(a) (1) Except as otherwise provided in this section, the Commissioner shall waive the license requirements for an applicant who is not a resident of the State if:

(i) the applicant has a valid public adjuster license from the home state of the applicant; and

(ii) the home state of the applicant awards nonresident public adjuster licenses to residents of the State on the same basis.

(2) If neither the state where the public adjuster maintains a principal place of residence nor the state where the public adjuster maintains a principal place of business has a law governing public adjusters substantially similar to this subtitle, the public adjuster may declare another state where the public adjuster is licensed and acts as a public adjuster to be the public adjuster’s home state for purposes of this subtitle.

(b) Unless denied a license under § 10-410 of this subtitle, a person who is not a resident of the State may obtain a nonresident license to act as a public adjuster if:

(1) the person currently is licensed as a resident public adjuster and in good standing in the person’s home state;

(2) the person files an application on the form that the Commissioner provides;

(3) the person has paid the applicable fee pursuant to § 2-112 of this article; and

(4) the person’s home state awards nonresident public adjuster licenses to residents of this State on the same basis.

(c) A person who is not a resident of this State and whose home state does not issue a public adjuster license must meet the license requirements of §§ 10-404 and 10-405 of this subtitle.