(a) The Arkansas State Medical Board shall accept for licensure by examination any person who:
(1) Is at least twenty-one (21) years of age;
(2) Is a citizen or a legal resident of the United States;
(3) Has not been found guilty of acts constituting unprofessional conduct as defined in the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq.;
(4) Is a graduate of an osteopathic college of medicine whose course of study has been recognized by the American Osteopathic Association Commission on Osteopathic College Accreditation; and
(5) Has completed a one-year internship in a hospital approved by the American Medical Association or the American Osteopathic Association.
(b) Applicants for such a licensure shall pay the fees required by the Arkansas Medical Practices Act, § 17-95-201 et seq., § 17-95-301 et seq., and § 17-95-401 et seq.