Section 556. Action by superintendent on application

1. Within ninety days
  after the filing of an application for a license accompanied by  payment
  of  the  fees  for  license  and investigation, the superintendent shall
  issue the license, or the superintendent may refuse to issue the license
  if  he  shall  find  that  the  financial  responsibility,   experience,
  character  and general fitness of the applicant or any person associated
  with the applicant are not such as to  command  the  confidence  of  the
  community  and to warrant the belief that the business will be conducted
  honestly, fairly and efficiently within the purposes and intent of  this
  article.    For  the purpose of this subdivision, the applicant shall be
  deemed to  include  all  the  members  of  the  applicant  if  it  is  a
  partnership  or  unincorporated  association,  and all the stockholders,
  officers and directors of the applicant if it is a  corporation.    Such
  license  to engage in business in accordance with the provisions of this
  article at the location specified in the application shall  be  executed
  in  triplicate  by  the  superintendent  and  he shall transmit one copy
  thereof to the applicant, file a copy  in  the  office  of  the  banking
  department,  and file a copy in the office of the clerk of the county in
  which is located the place designated in such license.
    2. If the superintendent refuses to issue a license, he  shall  notify
  the  applicant  of the denial, return to the applicant the sum paid as a
  license fee, but retain the investigation fee  to  cover  the  costs  of
  investigating the applicant.
    3. Each license issued hereunder shall remain in full force and effect
  until  it  is  surrendered  by  the  licensee or revoked or suspended as
  provided in this article.
    4. Only one office may be maintained under each license, but more than
  one license may be issued to the same licensee pursuant to this article.
    5. Any person engaged in the business of a premium finance  agency  on
  the  date  this act takes effect may continue in operation in accordance
  with the provisions of this article but must obtain a license  for  each
  office  at  which he engages in the business of a premium finance agency
  by January first, nineteen hundred sixty-one.