A. In accordance with the procedures contained in the Uniform Licensing Act [ 61-1-1 to 61-1-31 NMSA 1978], the department may revoke the registration of any employee leasing contractor upon grounds that the contractor:
(1) is guilty of fraud, deception or misrepresentation in procuring registration under the Employee Leasing Act;
(2) has willfully or negligently violated any provision of the Employee Leasing Act or any of the rules or regulations of the department pursuant to that act; or
(3) has not maintained the surety bond or complied with the deposit requirements pursuant to Section 7 [ 60-13A-7 NMSA 1978] of the Employee Leasing Act.
B. Disciplinary proceedings may be instituted by sworn complaint of any person and shall conform with the provisions of the Uniform Licensing Act.
C. An employee leasing contractor whose registration has been revoked may reapply for registration after a period of two years from the date the revocation is effective.