(a) Application for a broker's license shall be made to the Supervisor of Savings and Loan Associations by the applicant and signed and sworn to by the applicant. The form of the application shall be prescribed by the supervisor and shall require full answers to any questions which may reasonably be necessary to determine the applicant's identity, residence, personal history, business record, experience, and other facts required by the supervisor to determine whether the applicant meets the qualifications for the license applied for.
(b) All applications shall be accompanied by the applicable license fee.
(c) As a prerequisite to issuing a broker's license, the applicant shall file with the supervisor a bond, in the form prescribed by the supervisor. This bond shall be in the principal amount of twenty thousand dollars ($20,000) with a corporate surety, conditioned on the faithful performance of the applicant's duties as a broker and the payment of all claims arising out of the performance by the applicant of his or her duties as a broker. The bond shall remain in full force and effect so long as the broker's license is outstanding.
(d) The supervisor shall promptly issue licenses applied for to persons qualified therefor in accordance with this section. The license shall state the name and address of the licensee, the date of issue, and shall provide for a termination on January 31 of each year.
(e) For the protection of the people of this state, the supervisor shall not issue, continue, or permit to exist any broker's license except in compliance with this chapter, and as to any person not possessing the following qualifications:
(1) The person must be of legal age;
(2) The person must be of good character;
(3) The person must have filed with the supervisor a bond pursuant to the terms of this section; and
(4) The person must have filed with the supervisor copies of all advertisements which the broker proposes to use in this state.