(1) Every applicant for examination is required to be a graduate from a reputable and qualified law school duly incorporated under the laws of this state or another state or territory, or the District of Columbia, of the United States of America.

    (2) If an applicant is called into or volunteers for the armed forces of the United States of America, and has completed successfully 2 1/2 years of the course of study as a full-time student, or 3 1/2 years of the course of study as a part-time student, in any such law school, the board of law examiners, in its discretion may allow such applicant to be examined for the bar prior to such graduation, but shall withhold certification until after his graduation.