(1) General Regulation as to Licensing
In its discretion, the supreme court may license to practice in this United States jurisdiction as a foreign legal consultant, without examination, an applicant who:
(a) is, and for at least five years has been, a member in good standing of a recognized legal profession in a foreign country, the members of which are admitted to practice as lawyers or counselors at law or the equivalent and are subject to effective regulation and discipline by a duly constituted professional body or a public authority;
(b) for at least five of the seven years immediately preceding his or her application, has been a member in good standing of such legal profession and has been lawfully engaged in the practice of law in the foreign country