A license may not be issued or renewed by the Department unless the applicant has:
A. Applied on a form provided by the Department;
B. Paid the fee that is required for the license being obtained as set forth in Regulation .03C of this chapter;
C. Complied with one of the following options:
(1) Posted a surety bond, irrevocable letter of credit, or cash guaranty, as required by Regulation .05 of this chapter, or
(2) Filed a financial statement as required by Regulation .06 of this chapter;
D. Provided proof of insurance coverage as required by Regulation .07 of this chapter; and
E. Provided additional financial information when requested by the Secretary.