A security guard license issued under AS 18.65.400 — 18.65.490 is subject to revocation in accordance with AS 44.62 (Administrative Procedure Act) for the following reasons: (1) false statements in an application issued under AS 18.65.400 — 18.65.490;
(2) violation of a provision of AS 18.65.400 — 18.65.490 or a regulation adopted under AS 18.65.450;
(3) conviction of a felony or a crime involving moral turpitude while licensed;
(4) knowing impersonation of a law enforcement officer; or
(5) knowingly continuing the employment of an individual as a security guard who has been convicted of a felony or a crime involving moral turpitude, or who has impersonated a law enforcement officer while employed by the licensee.