A person wishing to hold an ownership interest of 5% or greater in, or control of, a cannabis licensee shall submit to the Administration: an application that includes the name, address, and date of birth of the applicant; a statement signed by the applicant asserting that the applicant has not previously had a cannabis license or cannabis registration suspended or revoked; a State and national criminal history records check in accordance with § 36–505 of this subtitle; any information required by the Administration to complete an investigation into the background of the applicant, including financial records and other information relating to the business affairs of the applicant; and an application fee in an amount to be determined by the Administration in accordance with this subtitle. The Administration may deny an application if: the applicant: fails to submit the information required under subsection (a) of this section; or has been convicted of or pleaded nolo contendere to a crime involving moral turpitude, whether or not any appeal or other proceeding is pending to have the conviction or plea set aside; or the Administration finds a substantial reason to deny the registration.