1. The board of pharmacy shall issue licenses to practice pharmacy in the state without examination to persons who have been legally registered or licensed as pharmacists in other states. Any applicant for a license under this section shall present satisfactory evidence of qualifications equal to those required from licensees in this state, that he was registered or licensed by examination in another state, and that the standard of competence required in the other state is not lower than that required in this state; but no license shall be issued until the board is satisfied that the other state accords similar recognition to the licensees of this state. Applicants for license under this section shall, with their application, forward a fee for the license as is determined by the board of pharmacy.

2. The board may by rule and regulation require any applicant under subsection 1 of this section to successfully complete any equivalency examination, practical examination, or any examination on Missouri laws pursuant to any rule or regulation as promulgated by the board.

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3. Any individual who is registered or licensed in a foreign country may be licensed under the provisions of sections 338.010 to 338.315 upon presentation of satisfactory evidence of qualifications equal to those required of licensees in this state.

4. The board may require any applicant under subsection 3 of this section to successfully complete any equivalency examination, practical examination or any examination on Missouri laws pursuant to any rule and regulation as promulgated by the board.