(1) No person shall act as a representative of a sponsor or agent of a sponsor as defined in Section 83-17-1, Mississippi Code of 1972, without first having obtained a license from the commissioner to act as an agent or representative of a sponsor of prepaid legal services in this state.

(2) The annual license fee shall be Ten Dollars ($10.00). The fee for said license shall be paid to the commissioner on or before March 1 of each year.

(3) Before any licensee changes his address, he shall return his license to the commissioner, who shall endorse the license indicating the change.

(4) Each person to whom the license or the renewal thereof may be issued shall file sworn answers, subject to the penalties of perjury, to such interrogatories as the commissioner may require. The commissioner shall have authority, at any time, to require the applicant to disclose fully the identity of all stockholders, partners, officers and employees, and he may, in his discretion, refuse to issue or renew a license in the name of any firm, partnership or corporation if he is not satisfied that any officer, employee, stockholder or partner thereof who may materially influence the applicant’s conduct meets the standards of this chapter.

(5) Upon the filing of an application and the payment of the license fee, the commissioner shall make an investigation of each applicant and shall issue a license if he finds the applicant is qualified in accordance with this chapter. If the commissioner does not so find, he shall, within ninety (90) days after he has received such application, so notify the applicant and, at the request of the applicant, give the applicant a full hearing.

(6) The commissioner shall issue or renew a license applied for when he is satisfied that the person to be licensed:

(a) Is competent and trustworthy and intends to act in good faith as an agent or representative of a sponsor of prepaid legal services plans in this state;

(b) Has a good business reputation and has had experience, training or education so as to be qualified to act as an agent or representative of a sponsor of prepaid legal services plans.