Louisiana Revised Statutes Tit. 37, § 2585. Qualifications for license

(1) That the financial responsibility, experience, character and general fitness of the applicant, and of the members thereof (if the applicant be a partnership or association) and of the officers and directors thereof (if the applicant be a corporation) are such as to command the confidence of the community and to warrant belief that the business will be operated fairly, honestly and efficiently within the purposes of this Chapter, and

(2) That the applicant, if an individual, and the members thereof, if the applicant is a partnership or association, and the officers and directors thereof, if the application is a corporation, or if such person or persons have not had a record of having defaulted in the payment of money collected for others, including the discharge of such debts through bankruptcy proceedings, the director shall thereupon issue and deliver a license to the applicant to engage in the financial planning and management service business in accordance with the provisions of this Chapter at the location specified in the application, which license shall remain in full force and effect until it is surrendered by the licensee or revoked by the director as hereinafter provided. Each license shall expire by the terms hereof on January first next following the issuance thereof unless the license is renewed as hereinafter provided.