A. The Commissioner may make such investigations as he deems necessary to determine if the applicant has complied with all applicable provisions of law and regulations.
B. For the purpose of investigating individuals who are members, senior officers, directors, trustees, and principals of an applicant, such persons shall consent to a criminal history records check and submit to fingerprinting. Each member, senior officer, director, trustee, and principal shall pay for the cost of such fingerprinting and criminal history records check. Such persons shall cause their fingerprints, personal descriptive information, and records check fees to be submitted to either of the following, as prescribed by the Commissioner:
1. The Bureau, which shall forward these items to the Central Criminal Records Exchange. The Central Criminal Records Exchange shall (i) conduct a search of its own criminal history records and forward such individuals’ fingerprints and personal descriptive information to the Federal Bureau of Investigation for the purpose of obtaining national criminal history record information regarding such individuals and (ii) forward the results of the state and national records searches to the Commissioner or his designee, who shall be an employee of the Commission; or
2. The Registry, provided that it is capable of processing criminal history records checks.
C. If any member, senior officer, director, trustee, or principal of an applicant fails to cause his fingerprints, personal descriptive information, or records check fees to be submitted in accordance with subsection B, the application for a qualified education loan servicer license shall be denied.