1. Upon the filing of the application, the approval of the bond, and the payment of the specified fees, the commissioner may issue a license if the commissioner finds all of the following: a. The financial responsibility, experience, character, and general fitness of the applicant, managers, partners, officers, and directors are such as to command the confidence of the community and to warrant belief that the business will be operated fairly, honestly, and efficiently within the purposes of this chapter. b. The applicant, managers, partners, officers, and directors: (1) Have not been convicted of a felony; (2) Have not been convicted of a misdemeanor involving dishonesty or untrustworthiness; or (3) Have not been the subject of an adverse finding or adjudication in a license disciplinary or other administrative proceeding concerning allegations involving dishonesty or untrustworthiness. c. The applicant, managers, partners, officers, and directors have not had a record of having defaulted in the payment of money collected for others, including the discharge of those debts through bankruptcy proceedings. d. The applicant or any managers, partners, officers, and directors previously have not violated any provision of this chapter or any rule adopted by the commissioner unless the commissioner determines the violation is not material. e. The applicant has not made any false statement or representation to the commissioner in applying for a license under this chapter. 2. The commissioner shall deliver a license to the applicant to operate as a debt-settlement provider in accordance with this chapter at the location specified in the application. The license remains in full force and effect until it is surrendered by the debt-settlement provider or revoked by the commissioner as provided in this chapter; provided, however, that each license expires by its terms on December thirty -first next following its issuance unless renewed as provided in this chapter. A license may not be surrendered without the approval of the commissioner.
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