The commissioner may decline to issue a bail license until he is satisfied that:

1. (a) The applicant is of good business reputation and of good general reputation.
2. (b) That the applicant has never been refused a license or had a license revoked by any public authority for reasons which indicated lack of honesty or integrity, or which show improper business practice on the part of the applicant.
3. (c) That the applicant has an understanding of the obligations and duties of bail.
4. (d) That the applicant has not participated in or been connected with any business transaction which, in the opinion of the commissioner tends to show unfitness to act in a fiduciary capacity or to maintain the standards of fairness and honesty required of a trustee or other fiduciary.
5. (e) That the applicant has not willfully misstated any material fact in his application or procured a misstatement in the supporting documents thereof.
6. (f) That there is no outstanding judgment against the applicant of conviction of a misdemeanor or felony denounced by this code, or one of the elements of which involves a misappropriation of money or property.
7. (g) That the applicant has not committed an act forbidden by this code.
8. (h) That the applicant is a fit and proper person to hold the license applied for.
9. (i) The applicant has been a continuous resident of the State of California for at least two years.