(1) The commissioner may issue a license to the applicant if the commissioner determines that the applicant:
(a) has satisfied all of the requirements for the license for which an application is made;
(b) has not engaged in conduct that would authorize the commissioner to refuse to issue a license under this part; and
(c) is financially responsible and has a good business reputation.
(2) If the commissioner denies an application, the commissioner shall inform the applicant and state the grounds for the denial.
(3) An individual may act as a viatical settlement provider or viatical settlement broker under the authority of the license of a firm or of a corporate viatical settlement provider whether or not the individual holds a license as a viatical settlement provider if:
(a) the individual is a member or employee of the firm or is an employee, officer, or director of the corporation; and
(b) the individual is designated by the firm or corporation on its license application or on a form that amends or supplements the application as being authorized to act as a viatical settlement provider under the authority of the license.