(a) The comptroller may refuse to issue or renew or may suspend or revoke a license or registration certificate if:
(1) the applicant or license or registration certificate holder violates this chapter or a rule adopted under this chapter;
(2) the applicant or license or registration certificate holder fails to answer a question or makes a false statement in, or in connection with, an application;
(3) the applicant or license or registration certificate holder extends or lends credit without notifying the commissioner of the person's intent to extend or lend credit as required by Section 2153.253;
(4) the applicant or license or registration certificate holder uses coercion to accomplish a purpose or engage in conduct regulated by the comptroller; or
(5) the applicant or license or registration certificate holder enters into a contract or agreement with the owner of the location of a coin-operated machine and the contract or agreement contains any kind of restriction relating to the location owner's right to purchase, agree to purchase, or use a product, commodity, or service that is not regulated under this chapter.
(b) The comptroller shall suspend or revoke a license or registration certificate if failure to suspend or revoke the license or registration would be contrary to the intent and purpose of this chapter.