After a public hearing, the hearing board may:
(1) Continue the suspension of a permit suspended by the air pollution control officer; or (2) Remove the suspension of an existing permit invoked by the air pollution control officer pending the furnishing by the permittee of the information, analyses, plans, and specifications required; or (3) Find that no violation exists and reinstate an existing permit; or (4) Revoke an existing permit, if it finds:
(a) The permittee has failed to correct any conditions required by the air pollution control officer; or (b) A refusal of a permit would be justified; or (c) Fraud or deceit was employed in the obtaining of the permit; or (d) Any violation of this chapter or of any rule or regulation of the air pollution control board.