(A) Any person making an initial application to the commission for licensure as a residential builder or registration as a residential specialty contractor shall first submit to a credit report. In addition to the information provided by the credit report, the commission may determine from the written application, the personal references provided by the applicant, written communications or complaints to the commission, and from any other reliable, documented sources whether an applicant for licensure as a residential builder or an applicant for registration as a residential specialty contractor has a reputation for the prompt payment of his labor or material bills and for the timely completion of other contracts into which the applicant may have entered.
(B) The application and renewal forms for all licenses and registrations issued by the commission shall require the applicant to list any outstanding judgments issued against him for the past five years.
(C) The term "misconduct" as used in Section 40-59-90 includes a pattern of repeated failure by a residential builder or residential specialty contractor to pay his labor or material bills.