(a) Subject to the hearing provisions of Title 2 of this article, the Commissioner may suspend or revoke a license if the licensee:
(1) has violated this article;
(2) has violated any law while acting as an adviser;
(3) has made a material misstatement in the application for the license;
(4) has been guilty of fraudulent or dishonest practices; or
(5) has demonstrated incompetency or untrustworthiness to act as an adviser.
(b) (1) Any licensee or any person aggrieved may file with the Commissioner a verified complaint that states facts that show sufficient grounds to suspend or revoke a license.
(2) On the filing of a complaint, the Commissioner, after notice and hearing, shall determine whether to suspend or revoke the license.
(c) An adviser whose license has been revoked may not obtain another license or renew a license for at least 1 year after:
(1) the date of revocation, if there is no judicial review; or
(2) the final determination in the judicial proceeding confirming the revocation, if there is judicial review.