An institution desiring to conduct a school of registered nursing or a school or program of practical nursing, or both, shall apply to the *commission and submit evidence satisfactory to the *commission that:
(1) It is prepared to carry out the curriculum approved by the *commission for basic registered nursing or practical nursing, or both; and
(2) It is prepared to meet other standards established by law and by the *commission.
The *commission shall make, or cause to be made, such surveys of the schools and programs, and of institutions and agencies to be used by the schools and programs, as it determines are necessary. If in the opinion of the *commission, the requirements for an approved school of registered nursing or a school or program of practical nursing, or both, are met, the *commission shall approve the school or program. The *nursing commission may grant approval to baccalaureate nursing education programs where the nurse administrator holds a graduate degree with a major in nursing and has sufficient experience as a registered nurse but does not hold a doctoral degree.