Each applicant for a license under this chapter shall show to the commissioner all of the following:
(1) that the applicant has the good faith intent to engage in the type of business the license applied for would permit;
(2)
(a) if a natural person, that the applicant is:
(i) competent; and
(ii) trustworthy; or
(b) if a partnership or corporation, that all the partners, directors, principal officers, or persons having comparable powers are trustworthy; and
(3) if a natural person, that the applicant is at least 18 years of age.