(1) If you are applying for an escrow officer license you must provide:

(a) Proof that you have passed the escrow officer test; and

(b) Satisfactory proof of your good character; and

(c) Satisfactory proof of your credit rating, as evidenced by a report from a recognized credit-reporting agency, and in a form approved by the director.

(2) If you are applying for an escrow agent license, you must provide satisfactory proof of character and a credit rating for all principal officers. If your applicant is a business entity and not a natural person, you must provide satisfactory proof of your entity's credit rating as evidenced by a report from a recognized credit-reporting agency, and in a form approved by the director.

(3) If you are reporting a change in principal officer, you must provide an escrow agent amendment application, and for any new principal officer:

(a) Satisfactory proof of his or her good character; and

(b) Satisfactory proof of his or her credit rating as evidenced by a report from a recognized credit-reporting agency, and in a form approved by the director.