(a) A person applying for a license under this article shall do so in a form and in a medium prescribed by the commissioner. The application must state or contain:
(1) the legal name and residential and business addresses of the applicant, if the applicant is an individual or, if the applicant is not an individual, the name of each partner, executive officer, manager, and director;
(2) the location of the principal office of the applicant;
(3) complete addresses of other locations in this State where the applicant proposes to engage in currency exchange, including all limited stations and mobile locations;
(4) a description of the source of money and credit to be used by the applicant to engage in currency exchange; and
(5) other information the commissioner reasonably requires with respect to the applicant, but not more than the commissioner may require under § 23-55-201 et seq.
(b) A nonrefundable application fee of $1,500 and a license fee of $375 must accompany an application for a license under this article. The license fee must be refunded if the application is denied.