(a) The Arkansas State Medical Board may issue an educational license to practice medicine to any physician who meets:

(1) The qualifications and requirements set forth in the rules of the Arkansas State Medical Board; and

(2) The conditions and requirements set forth in subsection (b) of this section.

(b) (1) The physician shall:

(A) Submit an application to the Arkansas State Medical Board;

(B) Provide information the Arkansas State Medical Board may by rule require;

(C) Pay a licensure fee that the Arkansas State Medical Board may set by rule to cover the costs of administering the Alternative to Discipline Program; and

(D) Be serving as a faculty member in the State of Arkansas or be affiliated with and under the supervision of a faculty member licensed by the Arkansas State Medical Board at an academic medical program accredited by the Accreditation Council for Graduate Medical Education or the American Osteopathic Association operated in the State of Arkansas and established by and under the control of a medical school accredited by an accrediting agency recognized by the United States Department of Education or approved by the Arkansas Higher Education Coordinating Board to seek accreditation by an accrediting agency recognized by the United States Department of Education.

(2) The educational license to practice medicine in the State of Arkansas shall authorize the practice of medicine only within the clinical and educational programs in the State of Arkansas that are established and administered by a medical school accredited by an accrediting agency recognized by the United States Department of Education or approved by the Arkansas Higher Education Coordinating Board to seek accreditation by an accrediting agency recognized by the United States Department of Education.

(c)

(1) The Arkansas State Medical Board shall issue each educational license for a period of one (1) year.

(2) At the end of the one (1) year, the license shall lapse, and the physician shall make an additional application to the Arkansas State Medical Board if the physician desires to continue the practice of medicine.

(d) A physician who obtains an educational license to practice medicine in the State of Arkansas shall comply with the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq., and all rules of the Arkansas State Medical Board.