§ 422. Conditions precedent to licensing. Upon filing of an
application for a license, if the secretary shall be satisfied of 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 in
duplicate to operate as a coin processor in accordance with the
provisions of this article. The secretary shall transmit one copy of
such license to the licensee and file another in the office of the
department. Such license shall remain in full force and effect for a
period of two 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.