(1) In addition to the statutory qualifications found in Title 32, chapter 7, MCA, officers and managers of proposed escrow businesses shall demonstrate the character and fitness to operate their proposed escrow businesses in compliance with all applicable state and local laws.

(2) The director, the commissioner of banking and financial institutions, and examining personnel of the banking and financial institutions division may gather all available information relative to applications and conduct such investigations as they may determine are warranted to verify the qualifications of the applicant.

(3) An application fee of $350 shall be paid to the state of Montana at the time of application, and thereafter shall not be refundable either in whole or in part.