The board, in its discretion, and otherwise subject to the provisions of this act and the rules and regulations of the board promulgated thereunder prescribing the qualifications for a nursing home administrator license, may endorse a nursing home administrator license issued by the proper authorities of any other state, upon payment of a fee established by the board by regulation and upon submission of evidence satisfactory to the board (i) that such other state maintained a system and standard of qualifications and examinations for a nursing home administrator license which were equivalent to those required in this State at the time such other license was issued by such other state, and (ii) that such other state gives similar recognition and endorsement to nursing home administrator licenses of this Commonwealth.