No person shall be licensed under the provisions of this chapter unless:

A. The applicant is a citizen of the United States of the age of eighteen years or more, except that if the applicant is required to carry a weapon, then of the age of twenty-one years or more; or

B. In the instance of a corporate applicant, the applicant shall be organized or authorized to do business in the state of Colorado. (Prior code § 6-2-2(C))