The commissioner shall issue a certificate of authority if he is satisfied that:
(1) All requirements of law have been met;
(2) All natural persons who are incorporators, the directors and principal officers of corporate incorporators, and the proposed directors and officers of the corporation being formed are trustworthy and competent and collectively have the competence and experience to engage in the particular dental service business proposed; and
(3) The business plan is consistent with the interests of the corporation’s potential subscribers and of the public, and that the working capital meets the minimum requirements of not less than $100,000.00.