(a) The board may suspend, revoke, or refuse to issue or renew any license issued by it upon finding that the holder or applicant has committed any of the following acts:
(1) A violation of this article or any rule adopted pursuant to this article.
(2) Fraud, deceit, or misrepresentation regarding an application or license.
(3) Knowingly and willfully making a material misstatement in connection with an application for a license or renewal.
(4) A conviction by a court of competent jurisdiction of a felony.
(5) A conviction by a court of competent jurisdiction of a Class A misdemeanor, if the board finds that the conviction reflects unfavorably on the fitness of the individual for the license.
(6) The commission of any act which would have been cause for refusal to issue the license or identification card had it existed and been known to the board at the time of issuance.
(b) A license may be suspended for the remaining license period and renewed during any period in which the license was suspended.