(A)   Upon receipt of an application for a license, accompanied by the proper fee, if approval by another officer or department is not required, the Clerk-Treasurer shall forthwith deposit the fee in the General Fund of the town and issue to the applicant a proper license certificate signed by the Clerk- Treasurer and any other appropriate town official. If for any reason the license is not issued, the license fee shall be returned to the applicant.
   (B)   Upon receipt of an application, an investigation of the applicant’s business reputation and moral character shall be made.
   (C)   The application shall be approved unless such investigation discloses tangible evidence that the conduct of the applicant’s business would pose a substantial threat to the public health, safety, morals or general welfare. Tangible evidence of any of the following will constitute valid reasons for disapproval of an application:
      (1)   The applicant has been convicted of a crime of moral turpitude;
      (2)   The applicant has made willful misstatements in the application;
      (3)   The applicant has committed prior violations of ordinances pertaining to itinerant merchants, peddlers, solicitors and the like;
      (4)   The applicant has committed prior fraudulent acts;
      (5)   The applicant has a record of continual breaches of solicited contracts; or
      (6)   The applicant has an unsatisfactory moral character.