(a) Upon written application of a person who was refused a license or whose license was not renewed or was revoked, or surrendered for cause under section 776, the Commissioner shall hold a hearing to determine whether the administrative action imposing the refusal, nonrenewal, revocation, or other administrative action should be modified, if all if the following conditions are met:
(1) At least five years have elapsed since the date of the administrative action sought to be modified;
(2) At least two years have elapsed since any previous request for a modification was made under this section;
(3) The person is of good business repute and does not have a history of moral turpitude;
(4) The person has made restitution for all pecuniary losses suffered by any person as a result of the conduct that gave rise to the administrative action;
(5) The person has not been convicted of any felony or of any misdemeanor described in section 776, unless the conviction was the subject of a previous administrative action by the Commissioner;
(6) The circumstances surrounding the previous violation are such that it is unlikely the person would commit such offenses in the future; and
(7) The person’s character has been rehabilitated.
(b) The burden of proof is on the person requesting the modification.
(c) The modification of an order issued under section 54 of this title is at the discretion of the Commissioner.
(d) The issuance of any license pursuant to a modification under this section is conditioned upon the successful completion of all pre licensing education or examination requirements.
(e) For the purpose of this section, administrative action does not include suspension that cannot exceed 12 months.