(a) Subject to the provisions of this section, the Board shall issue a pre-need trustee license to an applicant if the applicant:

(1) Applies to the Board on an application provided by the Board;

(2) Has been actively licensed in good standing by the Board for a minimum of 5 years while working in a facility that has accepted pre-need contracts and who can provide proof to the Board that these services have been provided by the applicant;

(3) Has been appointed as a pre-need trustee by the holder of an executor license issued under § 7-308.1 of this subtitle;

(4) Is of good moral character; and

(5) Pays the required fee.

(b) (1) While a pre-need trustee license is effective, the license authorizes the license holder to manage pre-need accounts held by a funeral establishment until the closing or sale of the funeral establishment.

(2) Notwithstanding the provisions of § 7-314 of this subtitle, a pre-need trustee license is valid from the date of issuance until the date of expiration of the license of the executor who appointed the license holder as a pre-need trustee under subsection (a)(3) of this section.

(c) The holder of a pre-need trustee license issued under this section may be the supervising mortician in a funeral establishment.