The department may discipline a license holder or deny an applicant a license under Subchapter C, Chapter 4005:

1. (1) for any cause for which, if known by the department, issuance of the license could have been refused; or

2. (2) if the license holder or applicant:

   1. (A) wilfully or knowingly violates this chapter, an insurance law of this state, or a department rule;
   2. (B) obtains or attempts to obtain a license through wilful misrepresentation or fraud;
   3. (C) fails the examination required by this chapter; or
   4. (D) is convicted on final judgment of a felony.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.