(a) When the Commissioner shall be satisfied of the good character, competency and integrity of the applicant, or if the applicant be a firm or partnership, the individual members thereof, or, if the applicant be a corporation, the officers thereof, he shall inform the applicant of his findings and that license shall be issued upon the applicant's posting a licensee's bond as provided in section 1309 of this chapter. Upon the posting of such licensee's bond, the Commissioner shall issue and deliver to such applicant a license to conduct the type of business applied for at the premises stated in the application. Such license shall not be transferable and shall be revoked or cancelled only by the Commissioner.
(b) Grounds for denial of license shall be:
(1) Conviction of a felony in the Virgin Islands or any other jurisdiction where civil rights have not been restored.
(2) Conviction of a crime involving moral turpitude or dishonest dealings.
(3) Lack of United States citizenship, permanent resident status or has not reached his 21st birthday.
(4) Failure to meet the experience qualifications required under the provisions of this chapter;
(5) Failure to meet character qualifications;
(6) Falsifying application for license;
(7) Conducting business without benefit of proper license;
(8) Failure to meet any qualification or requirement prescribed in this chapter, or for any cause which, if the applicant had already been licensed hereunder, would be grounds for revocation of such license.