Sec. 4. If an authorizer determines that:
(1) an organizer is failing to comply with the conditions or procedures established in the charter;
(2) a charter school established by the organizer is failing to meet the educational goals set forth in the charter;
(3) an organizer is failing to comply with all applicable federal and state laws;
(4) an organizer fails to meet generally accepted fiscal management and government accounting principles; or
(5) one (1) or more grounds for revocation exist as specified in the charter;
the authorizer may order any corrective action that the authorizer considers necessary to correct the deficiency or revoke the school's charter.