Subject to the provisions of this section, the Board shall issue a pre–need trustee license to an applicant if the applicant: Applies to the Board on an application provided by the Board; Has been actively licensed in good standing by the Board for a minimum of 5 years while working in a facility that has accepted pre–need contracts and who can provide proof to the Board that these services have been provided by the applicant; Has been appointed as a pre–need trustee by the holder of an executor license issued under § 7–308.1 of this subtitle; Is of good moral character; and Pays the required fee. While a pre–need trustee license is effective, the license authorizes the license holder to manage pre–need accounts held by a funeral establishment until the closing or sale of the funeral establishment. Notwithstanding the provisions of § 7–314 of this subtitle, a pre–need trustee license is valid from the date of issuance until the date of expiration of the license of the executor who appointed the license holder as a pre–need trustee under subsection (a)(3) of this section. The holder of a pre–need trustee license issued under this section may be the supervising mortician in a funeral establishment.