1. If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the commissioner may suspend or revoke the licensee's license in accordance with the procedures established by this chapter or other applicable state law for such suspension or revocation.

2. An applicant for a money transmission license and a money transmission licensee must at all times meet the requirements in sections 13-09.1-32, 13-09.1-33, and 13-09.1-34.