Licenses shall be granted only to persons who present, and to corporations, partnerships, companies or associations whose officers, associates or partners present satisfactory proof to the commission that they are trustworthy and competent to transact the business of a real estate broker or real estate salesperson in such manner as to safeguard the interests of the public.

Every person who applies for a resident license as a real estate broker:

(a) shall be age twenty-one (21) years or over, and have his legal domicile in the State of Mississippi at the time he applies;

(b) shall be subject to the jurisdiction of this state, subject to the income tax laws and other excise laws thereof, subject to the road and bridge privilege tax laws thereof;

(c) shall not be an elector in any other state;

(d) shall have held a license as an active real estate salesperson for twelve (12) months immediately prior to making application for the broker’s examination hereafter specified;

(e) shall have successfully completed a minimum of one hundred twenty (120) hours of courses in real estate as hereafter specified; and

(f) shall have successfully completed the real estate broker’s examination as hereafter specified; and

(g) shall have successfully been cleared for licensure by the commission’s background investigation as provided in Section 73-35-10.

An applicant who has not held an active real estate salesperson’s license for a period of at least twelve (12) months immediately prior to submitting an application shall have successfully completed a minimum of one hundred fifty (150) classroom hours in real estate courses, which courses are acceptable for credit toward a degree at a college or university as approved by the Southern Association of Colleges and Schools.