(a) The department shall issue a license to each qualified applicant who applies for a service company license.
(b) An applicant for the issuance or renewal of a license under this section must:
(1) submit to the department a certificate of insurance evidencing that the applicant has an insurance policy that meets the requirements of Section 13.460 effective for the period for which the license is to be issued or renewed; and
(2) meet any other requirements provided by department rule.