No organization license shall be granted:
1. to any applicant if the applicant or a person owning an interest in the applicant:
a. has been convicted of a felony, or b. has been convicted of violating any law regarding gambling or controlled dangerous substances of the United States, this state, or any other state, or c. has a federal or state criminal charge pending, or d. is or has been connected with or engaged in the operation of any illegal business; or 2. to any person who, at the time of application for the organization license, does not own a finished racetrack or have architectural plans and specifications approved by the Commission for a racetrack which is suitable for the type of racing intended to be held by the applicant and for the accommodation and safety of the public and the horses.