The commissioner may, if he be of the opinion that reasonable grounds exist to believe that a licensee has willfully violated any of the provisions of this article, or the Small Loan Regulatory Law (Section 75-67-101 et seq.), or any regulation of the commissioner made under the authority of either, or any other applicable statute of this state, upon written notice to the licensee distinctly specifying the charges against him, cite the licensee to appear before him to show cause why his license should not be revoked. Such notice shall fix the date, time and place of the hearing, which hearing shall not be held less than ten (10) days from the date of such notice. At such hearing the licensee shall have the right to be heard either in person or by counsel, to produce witnesses in his behalf, and to examine and cross-examine all witnesses who may testify.

If, after the hearing, the commissioner finds that the licensee has been guilty of willfully violating any provision of this article, or the Small Loan Regulatory Law (Section 75-67-101 et seq.), or any regulations made by the commissioner under the authority of either, or any other applicable statute of the State of Mississippi, the commissioner shall forthwith revoke the license involved; otherwise, the proceedings shall be dismissed. At all such hearings, the commissioner shall cause the evidence to be taken down and a record made thereof and he shall make a written finding and decision and shall cause same to be included in the record. The original of the record shall be retained by the commissioner and a copy thereof shall be furnished to the licensee. Any licensee whose license is revoked by the commissioner may, within twenty (20) days after such revocation, appeal to the circuit court of the county where the business is being conducted, as in cases of appeal from an order of a lesser tribunal. The trial on appeal shall be de novo.

Any licensee who is exempt from liability for an act or omission under Section 75-67-245 shall not have his license revoked under this section for the same act or omission.