The department shall issue a license to operate as a BIDCO to a corporation that is incorporated under AS 10.06, or that has been issued a certificate of authority under AS 10.06 to transact business in the state, and that submits an application to the department, if the department determines that
- (1) the applicant has the net worth required under AS 10.13.040;
- (2) the directors, officers, and controlling persons of the applicant satisfy the criteria under AS 10.13.050;
- (3) it is reasonable to believe that the corporation will comply with this chapter;
- (4) the applicant has a reasonable promise of being a viable, ongoing BIDCO, satisfying the basic objectives of the corporation's business plans, and achieving long-term financial success.