(1) The commissioner may deny an application for a license, refuse to renew a license, revoke or suspend a license, or place a licensee on probation, as the case may require, if the licensee or applicant has: (a) Violated this part 3 or section 35-36-104 or violated any of the rules promulgated by the commissioner pursuant to this article 36; (b) Been convicted of a felony under the laws of this state, any other state, or the United States; except that, in considering a conviction of a felony, the commissioner is governed by section 24-5-101; (c) Committed fraud or deception in the procurement or attempted procurement of a license; (d) Failed or refused to file with the commissioner a surety bond or an irrevocable letter of credit, as required by section 35-36-304; (e) Been determined by the commissioner to be in an inadequate financial position to meet liability obligations; (f) Failed to comply with a lawful order of the commissioner concerning the administration of this part 3; or (g) Had a license revoked, suspended, or not renewed or has been placed on probation in another state for cause, if the cause could be the basis for the same or similar disciplinary action in this state. (2) All proceedings concerning the denial, refusal to renew, revocation, or suspension of a license or the placing of a licensee on probation shall be conducted pursuant to section 35-36- 305 and article 4 of title 24. (3) A previous violation of this part 3 or section 35-36-104 by the applicant or any person connected with the applicant in the business for which the applicant seeks to be licensed, or, in the case of a partnership or corporation applicant, any previous violations of this part 3 or section 35-36-104 by a partner, officer, director, or stockholder of more than thirty percent of the outstanding shares, is sufficient grounds for the denial of a license.
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