(a) A person wishing to hold an ownership interest of 5% or greater in, or control of, a cannabis licensee shall submit to the Administration: (1) an application that includes the name, address, and date of birth of the applicant; (2) a statement signed by the applicant asserting that the applicant has not previously had a cannabis license or cannabis registration suspended or revoked; (3) a State and national criminal history records check in accordance with § 36–505 of this subtitle; (4) any information required by the Administration to complete an investigation into the background of the applicant, including financial records and other information relating to the business affairs of the applicant; and (5) an application fee in an amount to be determined by the Administration in accordance with this subtitle. (b) The Administration may deny an application if: (1) the applicant: (i) fails to submit the information required under subsection (a) of this section; or (ii) has been convicted of or pleaded nolo contendere to a crime involving moral turpitude, whether or not any appeal or other proceeding is pending to have the conviction or plea set aside; or (2) the Administration

victed of or pleaded nolo contendere to a crime involving moral turpitude, whether or not any appeal or other proceeding is pending to have the conviction or plea set aside; or (2) the Administration finds a substantial reason to deny the registration.