(a) The Commissioner may, in his discretion, suspend, revoke, or refuse to renew the certificate of authority of any association if he finds that the association:
(1) Has violated any lawful order, rule or regulation of this chapter.
(2) Is in unsound financial condition so as to render its further transaction of business in the territory hazardous or injurious to the public.
(3) Is using methods of practice in the conduct of its business so as to render its future transactions of business in the territory hazardous or injurious to the public.
(4) Has refused to be examined or has refused to produce its accounts, records, and files for examination, or any of its officers have refused to give information with respect to its affairs or to perform any other legal obligation as to such examination, when required by the Commissioner.
(5) Has failed to pay any final judgment rendered against it in the territory within 90 days after the judgment became final.
(6) Has, without just cause, refused to provide service under its contracts or has, without just cause, compelled contract holders to employ attorneys to bring suit against the association to secure service.
(7) Is affiliated with, and under the same general management or interlocking directorate or ownership as another ambulance service association which transacts direct contracts in the territory without having a license.
(b) The Commissioner may, in his discretion, suspend the certificate of authority of any association as to which proceedings for receivership, rehabilitation, or other delinquency proceedings have been commenced in any state.
(c) Nothing in this chapter shall exclude any association from the due process provisions of chapter 7 of Title 22, Virgin Islands Code.
(d) A violation of this chapter by an insurer is grounds for suspension or revocation of the insurer's certificate of authority in the territory.