(a) The commission shall issue or renew a commercial lessor license if the commission determines that:
(1) the applicant has paid the license fee as provided by Section 2001.158;
(2) the applicant qualifies to be licensed under this chapter;
(3) the rent to be charged is fair and reasonable;
(4) there is no diversion of the funds of the proposed lessee from the lawful purposes under this chapter;
(5) the person whose signature or name appears in the application is in all respects the real party in interest and is not an undisclosed agent or trustee for the real party in interest; and
(6) the applicant will lease the premises for the conduct of bingo in accordance with this chapter.
(b) The commission shall issue a commercial lessor license under this section for the period specified in the license application or for a shorter period as the commission determines.
(c) Except as provided by Section 2001.158(d), the period may not exceed one year.