(a) The Department may refuse to grant a license or may revoke any license already granted, as the case may be, when it is satisfied of the existence of any of the following causes:
(1) The dealer has suffered a money judgment to be entered against the dealer upon which execution has been returned unsatisfied;
(2) The dealer has failed promptly and properly to account and to pay for agricultural products;
(3) The dealer has made a false or misleading statement as to market conditions or the service rendered, if any, with the intent to defraud;
(4) The dealer has perpetrated a fraud or engaged in deceit in procuring the license;
(5) The dealer has engaged in any fraudulent or deceitful practices in dealings with producers.
(b) Before any license is refused or revoked, the Department or its authorized agents shall give the applicant or licensee at least 20 days' notice of the time and place of hearing on refusal or revocation of a license. At the time and place of hearing, the Department or its authorized agents shall receive evidence, administer oaths, examine witnesses and hear testimony and shall file an order either dismissing the proceeding or refusing or revoking the license.