(1) not have been convicted of a felony nor incarcerated for a felony within the 10 years prior to the date of application;

(2) maintain an established place of business open to the public;

(3) maintain bodily injury and property damage liability insurance on each motor vehicle being used in driver training, insuring the liability of the driver training school and the operator of each motor vehicle for each instructor and of any person while using any such motor vehicle with the permission of the named insured in at least the following amount: $300,000.00 for bodily injury or death of one person in any one accident and, subject to said limit for one person, $500,000.00 for bodily injury or death of two or more persons in any one accident, and $100,000.00 for damage to property of others in any one accident;

(4) have the equipment necessary to the giving of proper instruction in the operation of motor vehicles;

(5) pay the application and license fees prescribed in section 702 of this title. (Added 1959, No. 153, § 4, eff. Jan. 1, 1960; amended 1981, No. 136 (Adj. Sess.), § 1, eff. Jan. 1, 1983; 1999, No. 110 (Adj. Sess.), § 5; 2013, No. 189 (Adj. Sess.), § 11.)