An individual is eligible to receive extended benefits for a benefit period of unemployment in the individual’s eligibility period if, with respect to the benefit period, the individual:
(1) has exhausted all regular benefits;
(2) satisfies the requirements of this subtitle for the receipt of regular benefits that are applicable to an individual claiming extended benefits, including not being disqualified for the receipt of benefits; and
(3) has within the individual’s base period received benefit wage credits for employment by employers in an amount not less than:
(A) 40 times the individual’s weekly benefit amount; or
(B) 1-1/2 times the individual’s high-quarter benefit wage credits.