(1) Is insolvent;
(2) Is not financially able to discharge the obligations of the bondsman's liabilities as surety;
(3) Has failed, refused or neglected to make the semiannual reports of assets and liabilities as required in § 40-11-303;
(4) Has made and filed false semiannual reports; or
(5) Has failed to furnish the court with information touching upon solvency, when called for;