Any person may be exempt from examination if he holds a license or certificate to practice podiatric medicine issued by any other state or territory of the United States, which has requirements for licensure, which are substantially equivalent to those of this Commonwealth, and which extends similar privileges to persons licensed under the laws of this Commonwealth. Application for license in these cases shall be made on forms supplied by the board and shall be under oath. The fee therefor shall be determined by the board by regulation.
63 P.S. § 42.10