1. The agriculture commissioner shall deny an applicant a livestock dealer's license if: a. The applicant's current assets do not exceed the applicant's current liabilities; or b. The applicant submitted false or misleading information in connection with the application.

2. The agriculture commissioner may deny an applicant a livestock dealer's license: a. If after due investigation, the commissioner has reason to believe that the applicant has failed to pay, in a timely manner and without reasonable cause, prior obligations incurred in connection with livestock transactions; b. If the applicant has failed to pay brand inspection fees or veterinary inspection fees, as required by law, within sixty days of the date on which they were due; c. If the applicant has violated any of the laws of this state governing the handling, shipment, or transportation of livestock; or d. For any other just and good cause.

3. Any applicant denied a license under this section may request a hearing before the agriculture commissioner within thirty days of the denial.