The commission may censure an appraisal management company, conditionally or unconditionally suspend or revoke any registration issued under this part or impose administrative fines not to exceed the maximum allowable amount defined by the state of Tennessee, if an appraisal management company is:
(1) Knowingly committing any act in violation of this part;
(2) Violating any rule or regulation adopted by the commission; or
(3) Procuring a license by fraud, misrepresentation, or deceit.