(a) The application submitted pursuant to section 466M-7 shall contain the information and authorizations necessary to conduct a criminal history record check in accordance with section 846-2.7 for:
(1) Each person applying for registration who owns more than ten per cent of an appraisal management company; and
(2) Each of the applicant's controlling persons.
(b) The information and authorizations shall be accompanied by the appropriate payment of the applicable fee for each record check.