Section 6135 - Registration standards1. Investigation. Upon the filing of an application for registration, the administrator shall investigate the applicant with respect to: A. The business records and the capital adequacy of the person seeking the registration; [1997, c. 155, Pt. A, §2(NEW).]B. The competence, experience, integrity and financial ability of any individual who: (1) Is a director, officer or supervisory employee of the business; or(2) Owns or controls the business; and [1997, c. 155, Pt. A, §2(NEW).]C. The record of the applicant or of any person referenced in paragraph B with respect to: (1) Any criminal activity;(2) Any fraud or other act of personal dishonesty;(3) Any act, omission or practice that constitutes a breach of a fiduciary duty; or(4) Any suspension or removal, by any agency or department of the United States or any state, from participation in the conduct of any federally or state-licensed or regulated business. [1997, c. 155, Pt. A, §2(NEW).] [1997, c. 155, Pt. A, §2(NEW).]
2.Grounds for denial. If the investigation under subsection 1 results in findings that the applicant is not properly qualified to conduct business under this subchapter, those findings are grounds for denial of the application. [1997, c. 155, Pt. A, §2(NEW).]
1997, c. 155, §A2 (NEW) .