At least one of the applicants for a license shall be a resident of the State. In the determination of the Board, each applicant shall: be of good character; and include the following information with the application: a statement that the applicant is at least 18 years old; and a checklist and police consent form. The Board may waive the residency requirement for an applicant if the applicant: is the purchaser of a business already in operation; or has owned the premises for which a license is sought for at least 2 years immediately preceding the filing of the application.