A. The commission may suspend or revoke any license when in its judgment the licensee:
(1) participated in any sham or fake professional contest;
(2) is guilty of a failure to give his best efforts in a professional contest;
(3) is guilty of any foul or unsportsmanlike conduct in connection with a professional contest; or
(4) is guilty of participating in an event while under the influence of illegal drugs.
B. Before revocation of a license, the commission shall afford the licensee opportunity for a hearing, and upon request of the licensee and after reasonable notice, the commission shall conduct a hearing on the revocation, permitting the licensee to appear personally and by counsel, introduce evidence and examine and cross-examine witnesses.
C. A majority vote of the members of the commission is required to revoke a license. The commission shall file a written report of its findings, determinations and order with the record of the proceedings and shall send a copy thereof to the licensee.