(c) An applicant shall be required to submit, without limitation:

1. (1) The required fee;

2. (2)

   1. (A) A performance bond in the amount of one hundred thousand dollars ($100,000) that names the state as the secured party.
   2. (B) The bond shall be maintained until the processor files its first application for renewal of the license;
3. (3) Documentation of the entity’s organization and ownership/management, including evidence that the applicant is an entity incorporated in the State of Arkansas;

4. (4) Sufficient evidence that each of the entity's owners, board members, and officers:

   1. (A) Is over the age of twenty-one (21);
   2. (B) Has not previously been an owner of a dispensary, cultivation facility, transporter, or processor that has had a license revoked; and
   3. (C) Owes no delinquent taxes to the State of Arkansas or the federal government;
5. (5) Consents for criminal background checks for each owner, board member, and officer of the entity, along with the required processing fees;

6. (6) Plan for operating a medical marijuana processor in compliance with applicable laws and rules and demonstrating planning sufficient to prove the applicant's ability to comply with Alcoholic Beverage Control Division’s rules including, without limitation:

   1. (A) Security requirements;
   2. (B) Recordkeeping requirements;
   3. (C) Transporting products;
   4. (D) Secure inventory tracking and control;
   5. (E) Sanitation and hygiene;
   6. (F) Implementation of appropriate security measures to deter and prevent the theft of marijuana and unauthorized entrance into areas containing marijuana;
   7. (G) Inspections and investigation by the division;
   8. (H) Manufacturing and processing;
   9. (I) Personnel requirements, including employee training; and
   10. (J) Ability to maintain effective control against diversion of marijuana and marijuana products; and

7. (7) Proof of financial stability and access to financial resources, including but not limited to:

   1. (A) Legal sources of finances immediately available to begin operating a processor;
   2. (B) Financial projections for the next five (5) years; and
   3. (C) No history of bankruptcy filings by the applicant or its owners, officers, or board of directors for eight (8) years prior to the date of application.

(e) The individual signing the application on behalf of the applicant must:

1. (1) Be an owner, officer, or agent of the entity;
2. (2) Provide evidence that the individual is legally authorized to sign the application on the applicant’s behalf;
3. (3) Serve as the primary point of contact with the commission; and
4. (4) Provide a contact phone number and email address.