The license issued to a distributor or manufacturer is subject to revocation under this chapter if the licensee:
(1) Makes a false statement or material omission in an application for a license under this chapter;
(2) Fails to maintain records that fully and accurately record all transactions connected with the distribution of bingo equipment;
(3) Falsifies or makes a false entry in a book or record if the entry relates in any way to the distribution of bingo equipment; or
(4) Violates this chapter or a term of a license issued under this chapter in any other way.