The board may deny, suspend, revoke, impose a monetary penalty, issue a letter of reprimand, refuse to issue or renew the registration of an appraisal management company, or take other disciplinary action when:

1.    The applicant or any partner has, within twelve months preceding the date of the application, violated any provision of this chapter.

2.    The applicant is not of good moral character.

3.    The applicant has been the holder of a registration revoked or suspended for cause, or surrendered in lieu of disciplinary proceedings.

4.    The applicant, in the case of an application for renewal of any registration, would not be eligible for such registration on a first application.

5.    The issuance of the registration applied for would result in a violation of any provision of this chapter or the rules adopted by the board.

6.    In the conduct of affairs under the registration, demonstrated incompetency, or untrustworthiness, or conduct or practices rendering the registrant unfit to carry on appraisal management services or making continuance in the business detrimental to the public interest, or that the licensee is no longer in good faith carrying on appraisal management services, and for this conduct is found by the board to be a source of detriment, injury, or loss to the public.

7.    Committed any act in violation of this chapter.

8.    Violated any rule or regulation adopted by the board in the interest of the public and consistent with the provisions of this chapter.

9.    Procured a registration or a renewal of a registration for the appraisal management company or committed any other act by fraud, misrepresentation, or deceit.