(1) Qualifications. To qualify for a license to practice practical nursing a person must:
(a)  Have successfully completed the basic curriculum of an approved practical nursing education program or its equivalent; and
(b)  Satisfy one (1) of the following requirements:
(i)   Pass an examination adopted and used by the board to measure knowledge and judgment essential for the safe practice of practical nursing; or
(ii)  Have a practical nursing license in good standing, without restriction or limitation, issued upon successful similar examination, approved by the board, conducted in another state, territory or foreign country; or
(iii) Have a practical nursing license in good standing, without restriction or limitation, issued by another state, territory or foreign country and meet established board requirements; and
(c)  Be of sufficiently sound physical and mental health as will not impair or interfere with the ability to practice nursing.
(2)  Fees. A qualified applicant shall be entitled to a license to practice practical nursing upon payment of a license fee to the board in an amount designated by the board not to exceed one hundred fifty dollars ($150).