(a) The commissioner shall revoke or suspend the certificate of authority of a motor club whenever, after a hearing, he finds in accordance with the procedure provided by W.S. 26-2-125 through 26-2-129, that any of the following circumstances exist:

1. (i) The club has violated any provision of this act;
2. (ii) It is insolvent;
3. (iii) Its assets are less than its liabilities;
4. (iv) It or its officers refuse to submit to an examination;
5. (v) It is transacting business fraudulently.

(b) The commissioner shall give notice of revocation or suspension to the public in such manner as he deems proper.