(1) Suspension or revocation.After notice and hearing, the commissioner may suspend or revoke a debt management service provider’s license if the commissioner finds that one of the conditions of subsection (2) of this section is met.
(2) Conditions for suspension or revocation.The following conditions are grounds for suspension or revocation of a registration: A fact or condition exists that, if it had existed at the time when the licensee applied for a license, would have been grounds for denying the application;
(3) The licensee knowingly violates a material provision of this chapter or rule or order validly adopted by the commissioner under authority of this chapter;
(4) The licensee is insolvent;
(5) The licensee refuses to permit the commissioner to make an examination authorized by this chapter; or
(6) The licensee fails to respond within a reasonable time and in an appropriate manner to communications from the commissioner.