33-14-203. License revocation — suspension. The commissioner may revoke or suspend the license of a premium finance company when and if after investigation it appears to the commissioner that:

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(1)a license issued to the company was obtained by fraud;

(2)there was misrepresentation in the application for the license;

(3)the holder of the license has otherwise been shown untrustworthy or incompetent to act as a premium finance company; or

(4)the company has violated any provisions of this chapter.