An applicant who is a polygraph examiner licensed under the laws of another state or territory of the United States may be issued a license without examination by the Division, in its discretion, upon payment of a fee of fifty dollars and the production of satisfactory proof that:

(a) He is at least twenty-one years of age;

(b) He is a citizen of the United States;

(c) He is of good moral character;

(d) The requirements for licensing of polygraph examiner in such particular state or territory of the United States were at the date of the applicant’s licensing therein substantially equivalent to the requirements now in force in this State;

(e) The applicant had lawfully engaged in the administration of polygraph examinations under the laws of such state or territory for at least two years prior to his application for license hereunder;

(f) Such other state or territory grants similar reciprocity to license holders of this State; and

(g) He has complied with § 40-53-100.