The Insurance Commissioner may deny, suspend, revoke, or refuse to renew or continue the registration of any sales representative if it is found that any one or more of the following grounds applicable to the sales representative exist under circumstances for which such denial, suspension, revocation, or refusal is not mandatory under Section 22 of this act:

1. 1. Any cause for which granting of the registration could have been refused had it then existed and been known to the Commissioner;
2. 2. Violation of any provision of the Service Warranty Insurance Act, or of any other law applicable to the business of service warranties, in the course of dealings under the registration;
3. 3. Violation of any lawful order or rule of the Commissioner;
4. 4. Failure or refusal to pay over, upon demand, to any service warranty association or insurer that the sales representative represents or has represented, any money received by the representative which belongs to the association or insurer; or
5. 5. In the conduct of business under the registration, engaging in unfair methods of competition or in unfair or deceptive acts or practices, as such methods, acts, or practices are defined under the Service Warranty Insurance Act, or otherwise constituting a source of injury or loss to the public or detriment to the public interest.

Laws 1993, HB 1001, c. 108, § 23, eff. September 1, 1993.