(a) The director may refuse to issue any license provided for in this chapter to any of the following:

1. (1) An individual who has had any license revoked, has a license currently under suspension, or failed to renew their license while under suspension.
2. (2) An individual who, while acting as a partner of a partnership, or an officer or director of a corporation, had their license revoked, has a license currently under suspension, or failed to renew their license while under suspension.

3. (3) An individual, who, while acting as a partner of the partnership, or an officer or director of the corporation, meets both of the following conditions:

   1. (A) The individual was a partner of any partnership, or an officer or director of any corporation, whose license was revoked, is currently under suspension, or was not renewed while under suspension.
   2. (B) The individual, while acting as a partner, officer, or director, participated in any of the prohibited acts for which the license was revoked or suspended.
4. (4) An individual who is serving or has served as the qualified manager for any licensee that has had its license revoked, is currently under suspension, or failed to renew while under suspension.