The State Board of Medical Licensure shall have the following powers and responsibilities:
Setting policies and professional standards regarding the medical practice of physicians, osteopaths, podiatrists and physician assistants practicing with physician supervision;
Considering applications for licensure;
Conducting examinations for licensure;
Investigating alleged violations of the medical practice act;
Conducting hearings on disciplinary matters involving violations of state and federal law, probation, suspension and revocation of licenses;
Considering petitions for termination of probationary and suspension periods, and restoration of revoked licenses;
To promulgate and publish reasonable rules and regulations necessary to enable it to discharge its functions and to enforce the provisions of law regulating the practice of medicine; however, the board shall not adopt any rule or regulation or impose any requirement regarding the licensing of physicians or osteopaths that conflicts with the prohibitions in Section 73-49-3;
To enter into contracts with any other state or federal agency, or with any private person, organization or group capable of contracting, if it finds such action to be in the public interest and in the furtherance of its responsibilities;
Perform the duties prescribed by Sections 73-26-1 through 73-26-5; and
Perform the duties prescribed by the Interstate Medical Licensure Compact, Section 73-25-101.