(a) No person shall engage in the business of a charter tour operator unless that person has registered as a travel agency with the director under section 468L-2 and complies with the provisions of this chapter applicable to a travel agency engaged in the business of a charter tour operator.
(b) An application for registration of a charter tour operator as a travel agency or for renewal of a registration of a charter tour operator as a travel agency shall be made on a form provided by the department. In addition to the information required to be provided by all applicants for registration as a travel agency, the form shall require an applicant for registration as a travel agency which intends to engage in the business of a charter tour operator to:
(1) Provide evidence that a charter tour client trust account has been established in accordance with sections 468L-5 and 468L-23;
(2) State whether the applicant intends to operate seven or more charter tours during any twelve months or shorter period of the registration period;
(3) State whether the applicant intends to operate sixteen or more charter tours during any twelve months or shorter period of the registration period; and
(4) Provide evidence that the applicant has complied with the financial performance requirements of section 468L-22.