(1) Grounds for refusing to issue a license to an applicant, for refusing to renew the license of a licensee, for revoking, suspending, restricting, or placing on probation the license of a licensee, for issuing a public or private reprimand to a licensee, and for issuing a cease and desist order shall be in accordance with Section 58-1-401.
(2) A bail recovery apprentice employed by a bail bond agency at the time the division suspends or revokes the bail bond agency's license may obtain a reinstatement of the bail recovery apprentice's license without fee if:
(a) the bail recovery apprentice did not engage in the conduct that led to the suspension or revocation; and
(b) the bail recovery apprentice submits documentation that a new licensed agent supervises the bail recovery apprentice.