(a) The commissioner may issue a license to an applicant only upon first determining that the financial condition, business experience, and character and general fitness of an applicant are such that the issuance of the license is in the public interest: Provided, That the commissioner shall apply 32A-2-8(f) and 32A-2-8(g) of this code in determining whether an applicants prior criminal convictions bear a rational nexus to the license being sought.
(b) An applicant for a license shall agree in writing to comply with the currency reporting and record-keeping requirements of 31 U.S.C. 5313, as well as those set forth in 31 C.F.R. Chapter X and any other relevant federal law.
(c) A person is not eligible for a license or shall surrender an existing license if, during the previous five years:
(1) The person or a principal of the person, of a business: