33-14-202. Investigation of applicant -- qualifications -- hearing. (1) Upon the filing of an application and the payment of the license fee, the commissioner shall make an investigation of each applicant and shall issue a premium finance company license if the applicant is qualified in accordance with this chapter. If the commissioner does not so find, he shall within 30 days after he has received the application, at the request of the applicant, give the applicant a full hearing.
     (2) The commissioner shall issue or renew a license as may be applied for when he is satisfied that the person to be licensed:
     (a) is competent and trustworthy and intends to act in good faith in the capacity involved by the license applied for;
     (b) has a good business reputation and has had experience, training, or education so as to be qualified in the business for which the license is applied; and
     (c) if a corporation, is a corporation incorporated under the laws of the state or a foreign corporation authorized to transact business in the state.

     History: En. Sec. 4, Ch. 360, L. 1981.