(a) If a licensed transporter is a partnership or corporation, it is sufficient cause for the denial, suspension, or revocation of the license if any officer, director, or trustee of the partnership or corporation, or any member in the case of a partnership, has committed any act or omitted any duty that would be cause for the denial, suspension, or revocation of a license issued to the officer, director, trustee, or member as an individual under this chapter.
(b) For purposes of this section, a licensee is responsible for and deemed to have committed an act of an employee or other agent of the licensee while acting as the licensee’s employee or agent, if the licensee approved of the act or had knowledge of the act or similar acts, and if the licensee, after approving the act or having such knowledge, retained the benefit, proceeds, profits, or advantages accruing from the act.