(a) The board may reprimand an appraisal management company or conditionally or unconditionally suspend or revoke any registration issued under this chapter if the board determines that the appraisal management company has:
(1) violated or attempted to violate this chapter or any rule adopted by the board under this chapter; or
(2) procured or attempted to procure a license or registration by fraud, misrepresentation, or deceit.
(b) The board may probate the suspension or revocation of a registration under reasonable terms determined by the board.
(c) The board may report to the appraisal subcommittee any disciplinary action taken by the board against an appraisal management company required to register under this chapter.