If a vendor of portable electronics or its employee or authorized representative violates any provision of this part, the commissioner may do any of the following after notice and the opportunity for a hearing:
(1) impose fines not to exceed $500 for each violation or $5,000 in the aggregate for violations;
(2) impose other penalties that the commissioner considers reasonable to carry out the purpose of this part, including:
(a) suspending the privilege of transacting portable electronics insurance under this part at specific business locations where violations have occurred; or
(b) suspending or revoking the ability of individual employees or authorized representatives to act under the license.