(a) The board may waive the examination requirement and license by credentials if the physician, osteopath, or podiatry applicant meets the requirements of AS 08.64.200, 08.64.205, or 08.64.209, submits proof of continued competence as required by regulation, pays the required fee, and has
(1) an active license from a board of medical examiners established under the laws of a state or territory of the United States or a province or territory of Canada issued after thorough examination; or
(2) passed an examination as specified by the board in regulations.
(b) The board shall adopt regulations under (a) of this section that require an applicant to demonstrate professional competence in pain management and addiction disorders. An applicant may include past professional experience or professional education as proof of professional competence.