A license or permit, obtained pursuant to Section 20-2-182 or 20-2-183, shall be denied, suspended, or revoked by the Board of Pharmacy upon finding that the license or permit holder has:
(1) Furnished false or fraudulent material information in any application filed under this article;
(2) Been convicted of a crime under any state or federal law relating to any controlled substance;
(3) Had his federal registration suspended or revoked to manufacture, distribute, or dispense controlled substances;
(4) Violated the provisions of Chapter 23 of Title 34; or
(5) Failed to maintain effective controls against the diversion of said precursors to unauthorized persons or entities.
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