MCDC testing based on requirements

For a requirement as shown below should MCDC be written based on the req. for 3 conditions or since MCDC is a structural coverage entity, should tests be written only for the 'if/else if' decisions ?

Requirement: The function shall return Error, if: • The address is NULL and • The memory state is not equal to OK.

if(get_address())
{
    ...
}
else if (memory_state() != OK)
{
    return ERROR
}

return OK