After notice and opportunity for a hearing, the Commissioner may suspend or revoke a license if the Commissioner finds that the licensee:
(1) has violated any provision of this title;
(2) has failed to maintain the standards required under this title for the issuance of an initial license;
(3) is insolvent;
(4) has liabilities that exceed its assets;
(5) has engaged in a fraudulent or deceptive act; or
(6) has entered into a service contract the form of which has not been approved by the Commissioner.