The director shall, upon five days notice to the licensee by registered United States mail, directed to the licensee at the address set forth on the license, stating the contemplated action and in general the grounds therefor and upon reasonable opportunity to be heard prior to such action, revoke any, license issued hereunder if he shall find that: (1) any licensee has failed to pay the annual license fee, or to maintain in effect the bond required under the provisions of this Chapter or willfully failed to comply with any order, decision or finding of the director made pursuant to and within the authority of this Chapter; or that (2) the licensee has willfully violated any provisions of this Chapter or any rule, regulation or direction lawfully made by the director under and within the authority of this Chapter; or that (3) any fact or condition exists which, if it had existed at the time of the original application for a license, would have warranted the director in refusing its issuance; or that (4) any applicant or party to an application has made any false statement or representation to the director in applying for a license hereunder.  

Acts 1970, No. 423, §10.