A license shall be granted to any person of good moral character upon written application being made in compliance with the terms of this subchapter and on payment of the license fee required herein. A bond in the sum of $500 with good and sufficient surety thereto, shall accompany each application for license, which bond shall be conditioned on the licensee's compliance with this subchapter, the provisions of this code and the laws of the state.
('71 Code, § 4-11-3)