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No franchise, except in the case of an operating cable system upon filing of a sworn statement pursuant to section 306 of this chapter, or renewal thereof shall be issued except upon written application to the Commission. Such application shall contain such information as the Commission may reasonably prescribe, including: (1) the citizenship and character of the applicant; (2) the financial, technical and other qualifications of the applicant to operate the system; (3) complete information as to its principals and ultimate beneficial owners, including, in the case of corporations, all stockholders owning five percent (5%) or more, both nominal and beneficial, of the issued and outstanding stock and, in the case of unincorporated associations, all members and ultimate beneficial owners, however designated; (4) complete information on the extent and quality of service, number of channels, hours of operation, variety of programs, local coverage, safety measures, and proposed rates; (5) equipment to be employed in rendering service and the source of funds for the purchase, lease, rental and installation of the equipment; (6) the routes of the wires and cables; (7) the area to be served; (8) the approximate starting and completion dates of construction of the system and the date service will actually be available to the area named; (9) the local office or representative to receive subscriber payments; and (10) such other information as the Commission may require.
Such application shall be signed by the applicant. Amendments to the franchise may be made pursuant to this chapter and regulations promulgated by the Commission.