A. The department of transportation shall immediately suspend, without notice or a hearing, the permit of a transportation network company that:
(1) does not continuously maintain the insurance coverage prescribed by the Transportation Network Company Services Act;
(2) does not pay the fees owed by the transportation network company and the transportation network company's drivers; or
(3) operates in a manner that poses an immediate or imminent threat to public safety.
B. Once suspended, the transportation network company may apply for reinstatement by requesting a public hearing before the department of transportation and shall establish that the basis for the suspension has been corrected.