When a corporation applies for a license, who is required to disclose their criminal records?

The requirement for all officers and directors of a corporation to disclose their criminal records when applying for a license is rooted in the regulatory framework that aims to ensure the integrity and accountability of those in leadership positions. This includes individuals who have a significant impact on the operations and decision-making processes of the organization.

By requiring disclosure from all officers and directors, regulatory bodies can assess any potential risks associated with the corporation, given that individuals in these roles have the authority to influence the company’s practices and policies. This thorough vetting process helps maintain high standards within the industry and protects the public interest.

Other options are narrower in scope and would not provide a complete picture of the corporation's leadership. Relying solely on the president, board members, or just the CFO and president would leave out essential personnel who may also play critical roles in the management and direction of the company. Therefore, the correct approach is to require all officers and directors to provide this information to ensure comprehensive oversight.