After notice and hearing, a board may revoke or suspend a license if the license holder:
(1) violates this chapter or a rule adopted by the board under this chapter;
(2) fraudulently obtains a license under this chapter;
(3) makes a false statement or misrepresentation:
(A) in an application for an original or renewal license; or
(B) during a hearing conducted by the board;
(4) refuses to answer a question submitted by the board during a hearing relating to the license holder's license, conduct, or qualifications;
(5) is finally convicted under the laws of this state, another state, or the United States of an offense that:
(A) is a misdemeanor involving moral turpitude or a felony; and
(B) is committed after August 27, 1973;
(6) is found by a court to be bankrupt or is insolvent;
(7) is found by a court to be mentally incompetent;
(8) fails to pay a judgment in accordance with Section 1704.204;
(9) pays commissions or fees to or divides commissions or fees with, or offers to pay commissions or fees to or divide commissions or fees with, a person or business entity not licensed under this chapter;
(10) solicits bonding business in a building in which prisoners are processed or confined;
(11) recommends to a client the employment of a particular attorney or law firm in a criminal case;
(12) falsifies or fails to maintain a record required under this chapter;
(13) fails to promptly permit the board, or a representative or an agent of the board, of the county in which the license holder is licensed to inspect a record required under this chapter;
(14) acts as a bail bond surety under a suspended or expired license;
(15) fails two or more times to maintain the amount of security required by Section 1704.160; or
(16) misrepresents to an official or an employee of the official the amount for which the license holder may execute a bail bond for purposes of obtaining the release of a person on bond.