Sec. 7. (a) An applicant for a license under this chapter must show that the applicant:
(1) has the qualifications and background essential for the conduct of the business to be licensed;
(2) has not been found guilty of a crime involving illegal activities that involve money, assets, or financial tools for personal gain; and
(3) does not employ an officer, director, partner, or manager that has been found guilty of a crime involving illegal activities that involve money, assets, or financial tools for personal gain.
(b) The agency may deny a license to an applicant that has been involved in improper business practices.