(a) (1) A license for the use of a limited liability company shall be applied for and issued to, as individuals:
(i) all of the authorized individuals, if the limited liability company has fewer than three authorized individuals; or
(ii) three authorized individuals, if the limited liability company has three or more authorized individuals.
(2) At least one of the authorized individuals shall:
(i) be a resident of the State at the time the application is filed; and
(ii) remain a resident of the State for the duration of time the license is in effect.
(b) An application for a limited liability company license shall include:
(1) the name, address, and signature of each authorized individual to whom the license shall be issued; and
(2) the name and address of the limited liability company.