(a) In the event of any change in the membership of the firm, or in the officers or directors of any association or corporation, or any change in the address of any office or location of such business, the Director shall be notified in writing of such change within 14 days thereafter. Failure to give such notification shall be sufficient cause for suspension or revocation of the license.
(b) Upon written application to the Director setting forth a proposed change in the location of any office or place of business of the licensee as set forth in the license, the Director may authorize a new location for any such office or place of business. In such case, the licensee shall produce to the Director the license and all copies thereof to the end that the Director may either endorse thereon such change of location or issue a new license as of the same date as the original license in lieu of the license so surrendered.