The Commissioner shall act on any application for a license under this chapter within 30 days after receipt by either granting or denying the application. The Commissioner shall deny an application when it does not satisfy the requirements of this chapter and any regulations promulgated pursuant to § 46.2-1703, or when the applicant has committed an act prohibited pursuant to subsection A of § 46.2-1707. The Commissioner may deny an application when the applicant was previously granted a license pursuant to § 46.2-1701 and such license was revoked or suspended. Any applicant denied a license shall, on his written request made within 30 days of the denial, be given a hearing at a time and place determined by the Commissioner or his designee. All hearings under this section shall be public and shall be held promptly. The applicant may be represented by counsel. Any applicant denied a license may not apply again for a license for 60 days from the date of denial of the application. The Commissioner or his designee may, for good cause shown, grant an applicant whose license has expired one or more 30-day extensions.