1. The Division shall issue the certificate to operate an intermediary service organization to the applicant if, after investigation, the Division finds that the applicant is in:
(a) Full compliance with the provisions of NRS 449B.500 to 449B.795, inclusive; and
(b) Substantial compliance with the standards and regulations adopted by the Board.
2. A certificate applies only to the person to whom it is issued and is not transferable.