1.  Upon the filing of the application, payment of the fees and approval of the surety bond or securities, the Commissioner shall investigate the financial condition and responsibility, the financial and business experience, and the character and general fitness of the applicant and may investigate any partners, directors, trustees or principal officers of the applicant.

2.  If the Commissioner determines that the business of the applicant will be conducted lawfully, honestly, fairly and efficiently, the Commissioner shall issue a license to the applicant to engage in the business of selling and issuing checks, receiving for transmission or transmitting money or credits, or both.