(a) The Board may revoke or refuse to renew any burial agent license, if, after a hearing held, the Board finds:

(1) That the agent has obtained or attempted to obtain any burial agent license through willful misrepresentation or fraud.

(2) That the agent has materially misrepresented the terms, conditions, benefits or effect of any burial agreement, or the financial condition or manner of doing business of any burial association.

(3) That the agent has been convicted, by final judgment, of a felony.

(4) That the agent has misappropriated or withheld from a burial association or burial agent any money or property received or collected by him for such burial association or burial agent.

(5) Any cause for which issuance the burial agent license could have been refused had it then existed and had been known to the Board.

(6) That the agent has willfully violated any provisions of this act.

(b) The holder of any burial agent license which has been revoked or renewal refused for cause by the Board, or cancelled by a burial association, shall surrender the same and the last renewal receipt to the Board upon receiving notice of revocation or refusal or cancellation.

(c) The Board, may, if it finds that extenuating and mitigating circumstances exist, issue an order suspending its order of refusal to renew, or revocation of, any burial agent license and placing the agent on probation under such conditions and for such period of time as it deems necessary. In the event the agent violates or fails to comply with the conditions of the probation the Board shall, after notice to the agent and a summary hearing, have the authority to cancel the probation and to revoke the burial agent licenses held by the agent.

(d) No person shall be issued a burial agent license for a period of three (3) years after the Board has issued an order revoking or refusing to renew such person's burial agent license.

Laws 1953, p. 135, § 22.