I hope you don't mind if I as a non Baptist respond since I'm assuming with the thread title you were trying to avoid a throw down over whether ministers should be required to have a M.Div.

Although the SBC does place a high value on formal education, there is certainly no requirement in the SBC for it unless it is a requirement of that particular church. There are a good number of pastors without it, especially without a Masters. The SBC has seminary extension courses that are through the 6 seminaries that are designed for those already in the pastorate and who live too far from one of the campuses. These are often available through the association. I know of a couple of pastors, one of whom is now on the foreign mission field, that took advantage of this opportunity, although I don't know that either of them earned the degree. One of them is listed on the Founders site. They both had Bachelors degrees. I think one majored in Bible or something similar but I'm not sure about the other one.

As far as I know due to their congregational polity the licensing and ordination is done through a local church although one would be listed with the state convention and the SBC as a minister, evangelist, etc. The SBC as an entity doesn't baptize anybody and I wouldn't think they would ordain anyone directly either but I could be wrong. I have heard of associations being involved in the process as well on what I suppose would be termed an advisory basis. I would imagine that the process may tend to vary somewhat as well.

Steve Clevenger (refbaptdude) can probably be of some help with this question since he has been SBC in the past and I think probably still is. Ivan is SBC too and has been for a long time.

__________________
Chris
Member at Grace Community Baptist Church, Mandeville, LA

Beware of a religion without holdfasts. But if I get a grip upon a doctrine they call me a bigot. Let them do so. Bigotry is a hateful thing, and yet that which is now abused as bigotry is a great virtue, and greatly needed in these frivolous times. I have been inclined lately to start a new denomination, and call it "the Church of the Bigoted." Spurgeon