(1) The board may issue a certificate, license, or permit to practice to a holder of a current and unencumbered certificate, license, or permit to practice issued under the laws of another jurisdiction upon the applicant's meeting the applicable requirements established under 37-50-203, 37-50-302, 37-50-303, and 37-50-314, MCA, and the rules established thereunder.

(2) An individual whose principal place of business is out of state and who qualifies for the practice privilege is exempt from permitting or licensing requirements pursuant to 37-50-325, MCA.

(3) The board may waive the education requirements and issue a certificate, license, or permit to practice to a holder of a certificate, license, or permit issued by another jurisdiction upon the applicant's showing that:

(a) the applicant passed the examination required for issuance of the applicant's certificate or license with grades that would have been passing grades at the time in this state;

(b) the applicant has had five years' experience in the practice of public accountancy after passing the examination upon which the applicant's certificate or license was based within the ten years immediately preceding the application; and

(c) the applicant's certificate, license, or permit was issued more than four years prior to the application for issuance of an initial certificate in this state; and

(d) the applicant has fulfilled the requirements of continuing professional education established under 37-1-306 and 37-50-314, MCA.

(4) Incomplete applications for licensure or certification or transfer of grades that are older than 12 months, will be considered invalid and void. The applicant will be required to re-apply and pay another fee.