(a) A registration may be revoked after notice and hearing upon a written finding of fact that the subdivider has (1) failed to comply with the terms of a cease and desist order;
(2) been convicted in a court subsequent to the filing of the application for registration for a crime involving fraud, deception, false pretenses, misrepresentation, false advertising, or dishonest dealing in real estate transactions;
(3) disposed of, concealed, or diverted funds or assets of any person so as to defeat the rights of subdivision purchasers;
(4) failed faithfully to perform a stipulation or agreement made with the department as an inducement to grant a registration, to reinstate a registration, or to approve a promotional plan or public offering statement;
(5) made intentional misrepresentations or concealed material facts in an application for registration.
(b) The findings of fact, if set out in statutory language, must be accompanied by a concise and explicit statement of the underlying facts supporting the findings.
(c) If the department finds after notice and hearing that the subdivider has been guilty of a violation for which revocation could be ordered, it may issue a cease and desist order instead.