(a) Upon the filing of an application pursuant to section 782 and the payment of the fees, the Board shall investigate the applicant and its general partners and persons owning or controlling, directly or indirectly, 10 percent or more of the outstanding interests or any person responsible for the conduct of the applicant’s lending activities in this territory, if the applicant is a partnership. If the applicant is a corporation, trust, limited liability company, or association, including an unincorporated organization, the Board shall investigate the applicant, its principal officers, directors, managing members, and persons owning or controlling, directly or indirectly, 10 percent or more of the outstanding equity securities or any person responsible for the conduct of the applicant’s lending activities in this territory. Upon the filing of an application pursuant to section 782 and the payment of the fees, the Board shall investigate the person responsible for the lending activity of the licensee at the new location described in the application. The investigation may be limited to information that was not included in prior applications filed pursuant to this chapter. If the Board determines that the applicant has satisfied this chapter and does not find facts constituting reasons for denial under section 789, the Board shall issue and deliver a license to the applicant.
(b) For the purposes of this section, “principal officers” means the president, chief executive officer, treasurer, and chief financial officer, as may be applicable, and any other officer with direct responsibility for the conduct of the applicant’s lending activities within the Territory.