1. The business for which the license is sought is an unlawful business;

2. The applicant is not qualified to engage in such business under applicable federal, state or local law; or

3. The applicant or, in the event of an applicant which is other than a natural person, if any principal of the applicant, owes to the town any unpaid and delinquent tax of any kind. As used in this subsection A3, the term "principal" means: (a) as to a corporation, any officer, director, or shareholder owning fifty percent (50%) or more of the issued and outstanding capital stock of the corporation; (b) as to any general partnership, any partner; (c) as to any limited partnership, any general partner; and (d) as to any limited liability company, any manager or member owning more than fifty percent (50%) interest in the entity. The term "delinquent" means the nonpayment of any tax obligation owed to the town within sixty (60) days of the date such obligation is due.