§ 89-eee. Conditions precedent to licensing. Upon filing of an
application for a license, if the secretary shall be satisfied that the
good character, competency and integrity of the applicant, and of the
principals and officers thereof, are such as to comply with the
provisions of this article, he or she shall thereupon issue a license to
operate as an armored car carrier in accordance with the provisions of
this article. Such license shall remain in full force and effect for a
period of three years unless it is surrendered by the licensee or
revoked or suspended as hereinafter provided; if the secretary shall not
so find, the secretary shall not issue such license and the secretary
shall notify the applicant of the denial in writing. The secretary
shall approve or deny every application for license hereunder within
ninety days from the filing thereof. No license shall be issued to an
applicant who has been convicted of a serious offense, or of a
misdemeanor, where such conviction, in the discretion of the secretary,
bears such a relationship to providing armored car services so as to
constitute a bar to licensure.