A license provided for pursuant to this chapter may be denied, suspended, or revoked on any of the following grounds:
(1) Proof of unfitness of applicant.
(2) Material misstatement of applicant in the application for a license.
(3) Because the applicant or licensee, or any subsidiary or any corporation owned or controlled by the applicant or licensee, has unfairly or without just provocation or cause cancelled or threatened to cancel the franchise or license of an existing or prior holder to use his, her, or its name, trademark, or trade name.