(a) After notice and an opportunity for a hearing, the commissioner may suspend or revoke a license if the commissioner finds that:
(1) Any fact or condition exists that, if it had existed at the time when the licensee applied for its license, would have been grounds for denying the application;
(2) The licensee violates any provision of this chapter or any rule or order validly promulgated or issued by the commissioner;
(3) The licensee refuses to permit the commissioner to make any examination authorized by this chapter;
(4) The licensee willfully fails to make any report or pay any fee required by this chapter;
(5) The licensee has been found guilty of or liable for any fraudulent act or practice;
(6) The licensee has made any material false representation to the commissioner in any application or report filed with the commissioner; or
(7) The licensee has abandoned its place of business for a period of sixty (60) days or more.
(b) The commissioner may only revoke or suspend the particular license with respect to which grounds for revocation or suspension may occur or exist unless the commissioner finds that the grounds for revocation or suspension are of general application to all offices or to more than one (1) office operated by the licensee, in which case the commissioner may revoke or suspend all of the licenses issued to the licensee.
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