Each applicant for a license under this chapter shall show to the commissioner all of the following:

1. (1) he or it has the good faith intent to engage in the type of business the license applied for would permit;
2. (2) if a natural person, he is competent and trustworthy, or, if a partnership or corporation, all the partners, directors, principal officers, or persons having comparable powers are trustworthy; and
3. (3) if a natural person, he is at least 18 years of age.