1. (a) To be eligible for a pawnshop license, an applicant shall:

   1. (1) Operate lawfully and fairly within the purposes of this chapter.
   2. (2) Not have been convicted of a felony within the last 10 years or not be acting as a beneficial owner for someone who has been convicted of a felony within the last 10 years.
2. (b) The application shall be accompanied by a fee of $50.00 to be paid to the Supervisor if the applicant does not possess an existing license at the time of applying for the pawnshop license. If the application involves a second or additional license to an applicant previously licensed for a separate location or involves substantially identical principals and owners of a licensed pawnshop at a separate location. The application shall be accompanied by a fee of $50.00.

(Acts 1992, No. 92-597, p. 1227, §12.)