(1) The commission may not issue a local industry representative license to:
(a) a person who is disqualified under Section 32B-1-304; or
(b) unless otherwise provided:
(i) a retail licensee that sells, offers for sale, or furnishes liquor;
(ii) staff of a retail licensee that sells, offers for sale, or furnishes liquor; or
(iii) an individual, partnership, corporation, or limited liability company who holds an interest in a retail licensee that sells, offers for sale, or furnishes liquor.
(2) If a person to whom a local industry representative license is issued under this part no longer possesses the qualifications required by this title for obtaining that local industry representative license, the commission may suspend or revoke that local industry representative license.