e Commissioner may deny an application for a license issued pursuant to this Article if, after a hearing pursuant to the provisions of the Administrative Adjudication Act, he finds that:

(a) The granting of the license will be against public interest;

(b) The applicant does not intend actively and in good faith to carry on as a business with the general public the transaction which would be permitted by the issuance of the license applied for;
(c) The applicant, and if a corporation, a director or officer thereof is not of good business reputation;

COL 03072011
11 Guam Code Ann. FINANCE & TAXATION
CH. 109 FOREIGN EXCHANGE

(d) The applicant, and if a corporation, a director or officer thereof, is lacking in integrity;
(e) The applicant, and if a corporation, a director or officer thereof, has been refused a professional, occupational or vocational license or had such a license suspended or revoked by any licensing authority for reasons that should preclude the granting of the license applied for;

(f) The applicant has knowingly or willfully made a misstatement in an application to the Commissioner for a license, or in a document filed in support of such application, or has made a false statement in testimony given under oath before the Commissioner or any other person acting in his stead;

(g) The applicant, and if a corporation, a director or officer thereof, has previously engaged in a fraudulent practice or act or has conducted any business in an unlawful or dishonest manner;

(h) The applicant, and if a corporation, a director or officer thereof, has shown incompetency or untrustworthiness in the conduct of any business, or has by commission of a wrongful act or practice in the course of any business exposed the public or those dealing with him to the danger of loss;
(i) The applicant, and if a corporation, a director or officer thereof, has failed to perform a duty expressly enjoined upon him by a provision of this Article or the rules promulgated by the Commissioner or has committed an act expressly forbidden by such provisions or by such rules;

(j) The applicant, and if a corporation, a director or officer thereof, has been convicted of:
(1) A felony;
(2) Any crime involving moral turpitude; or

(3) A public offense having as one of its necessary elements a fraudulent act or an act of dishonesty in acceptance, custody, or payment of money or property;

(k) The applicant, and if a corporation, a director or officer thereof, has aided or abetted any person in an act or omission which would constitute grounds for the suspension, revocation or refusal

COL 03072011
11 Guam Code Ann. FINANCE & TAXATION
CH. 109 FOREIGN EXCHANGE

of a license issued under this Article to the person aided or abetted;
or

(1) The applicant has permitted any person in his employ to violate any provision of this Article.
SOURCE: GC §30954.