(a) Subject to the hearing provisions of Title 2 of this article, the Commissioner may deny a registration to an applicant or refuse to renew, suspend, or revoke the registration of a registrant if the applicant or registrant:
(1) makes a material misstatement in an application for registration;
(2) fraudulently or deceptively obtains or attempts to obtain a registration for the applicant or registrant or for another;
(3) has been convicted of a felony or of a misdemeanor involving moral turpitude;
(4) in connection with the administration of a plan or with activities on behalf of a life insurer, commits fraud or engages in illegal or dishonest activities; or
(5) violates any provision of this subtitle or a regulation adopted under it.
(b) This section does not limit any regulatory power of the Commissioner under Title 2 of this article.