(a) The Commissioner may, upon ten (10) days' notice to the licensee, stating the contemplated action and in general the grounds therefor, hold a hearing at which the licensee shall have a reasonable opportunity to be heard, for the purpose of determining whether a license should be revoked, for failure of the licensee to comply with the provisions of this act and the regulations hereunder. After such hearing the Commissioner may revoke any license issued hereunder if he finds that:
1. The licensee has failed to pay the annual license fee or to maintain the bond or the deposit or securities required by this act; or
2. The licensee has failed to comply with any order, decision or finding of the Commissioner made pursuant to this act; or
3. The licensee has violated any provision of this act; or
4. Any fact or condition exists which, if it had existed at the time of the original application for a license, would have warranted the Commissioner in refusing its issuance.
(b) A licensee may surrender any license by delivering to the Commissioner written notice that he surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability on any bond, or entitle such licensee to a return of any part of any license fee.
Added by Laws 1961, p. 429, § 16.
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