(1) The board may determine whether the licensing standards of another jurisdiction within the United States in which an applicant, its affiliate, intermediary, subsidiary or holding company for a terminal operator license is similarly licensed are comprehensive and thorough and provide similar adequate safeguards as those required by this part.

(2) If the board makes that determination, it may issue a terminal operator license to an applicant who holds a terminal operator license in the other jurisdiction after conducting an evaluation of the information relating to the applicant from the other jurisdictions, as updated by the board, and evaluating other information related to the applicant received from that jurisdiction and other jurisdictions where the applicant may be licensed, the board may incorporate such information in whole or in part into the board's evaluation of the applicant.

(1) In the event an applicant for a terminal operator license is licensed in another jurisdiction, the board may determine to use an alternate process requiring only that information determined by the board to be necessary to consider the issuance of a license, including financial viability of the licensee, to such an applicant.

(2) Nothing in this section shall be construed to waive fees associated with obtaining a license through the normal application process.