Section 89-EEE. Conditions precedent to licensing

Upon  filing  of an
  application for a license, if the secretary shall be satisfied that  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 to
  operate  as  an armored car carrier in accordance with the provisions of
  this article. Such license shall remain in full force and effect  for  a
  period  of  three  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.  No license shall be issued to an
  applicant who  has  been  convicted  of  a  serious  offense,  or  of  a
  misdemeanor,  where such conviction, in the discretion of the secretary,
  bears such a relationship to providing armored car  services  so  as  to
  constitute a bar to licensure.