An applicant for a license under this chapter shall demonstrate to the commissioner that:
(1) the applicant has the intent, in good faith, to engage in the practice of a navigator as the license would permit;
(2)
(a) if a natural person, the applicant is:
(i) competent; and
(ii) trustworthy; or
(b) if the applicant is an agency:
(i) the partners, directors, or principal officers or persons having comparable powers are trustworthy; and
(ii) that it will transact business in a way that the acts that may only be performed by a licensed navigator are performed only by a natural person who is licensed under this chapter, or Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries;
(3) the applicant intends to comply with the surety bond requirements of Section 31A-23b-207;
(4) if a natural person, the applicant is at least 18 years of age; and
(5) the applicant does not have a conflict of interest as defined by regulations issued under PPACA.