(1) Any person may apply to the board for authorization to qualify an educational seminar for continuing education credit provided under section 60-1408. The board shall require a complete and specific description of such educational seminar from the applicant prior to authorizing such educational seminar for continuing education credit. Such description shall include:

(a) How the educational seminar will benefit a licensee in conducting business;

(b) The length of time the educational seminar will be conducted;

(c) A description of the method that will be used to record attendance during the educational seminar; and

(d) Copies of any instructional materials that will be provided to attendees of the educational seminar.

(2)(a) The board shall determine whether to approve or deny an application made under subsection (1) of this section. If authorization for continuing education credit is granted, the board shall also determine the number of continuing education credit hours authorized for the educational seminar.

(b) Within ten days of receiving the application, the board shall notify the applicant of the board's decision to approve or deny such educational seminar for continuing education credit, and, if applicable, the number of continuing education credit hours authorized.