In the event any moneys are expended from the products fund on behalf of any licensee, such licensee shall not be licensed in this state for a period of four years from the date such payment is made, so long as the licensee remains legally obligated to pay any claim for farm products made pursuant to Chapter 6 (commencing with Section 55401) or Chapter 7 (commencing with Section 56101), or unless the amount of money expended on the licensee’s behalf has been repaid to the products fund and the balance, if any, due creditors plus a penalty assessment of 7 percent per annum from the date such moneys were expended from the products fund or due the creditor have been paid. In case the licensee is a corporation, this section shall apply with respect to any officer, member of the board of directors, or any person employed by such corporation in a managerial position, or any person who owns more than 25 percent of the stock of such corporation.