The bureau may refuse to issue any license provided for in this chapter to any individual:

1. (a) Who has had any license issued to them revoked, or whose license is under suspension, or who has failed to renew their license while it was under suspension.
2. (b) If any license of a partnership or limited liability company of which they are or were a member, or of a corporation of which they are or were an officer or director, or of a firm or association of which they are or were an officer or of which they are or were acting in a managerial capacity, has had any license issued to it revoked or suspended, and while acting as a member, officer, director, or in a managerial capacity they participated in any of the prohibited acts for which the license was revoked or suspended.