A judge of the district court, upon five (5) days' notice to the person holding such license, may revoke such license for any one of the following reasons:
1. Drunkenness of the person holding such license or permitting any intoxicated person to loiter in such place;
2. Violation of any provision of law relating to persons under twenty-one (21) years of age and alcoholic beverages as defined in Section 506 of Title 37 or low-point beer as defined in Section 163.2 of Title 37; or 3. Violating any of the intoxicating beverage or low-point beer laws of the state; or permitting anyone to violate any of these laws in such place.