A. The Commission may suspend or revoke any license issued under this chapter upon any of the following grounds:
2. Any violation of the provisions of this chapter or regulations adopted by the Commission pursuant thereto, or a violation of any other law or regulation applicable to the conduct of the licensee’s business;
3. A course of conduct consisting of the failure to perform written agreements with qualified education loan borrowers;
4. Failure to account for funds received or disbursed to the satisfaction of the person supplying or receiving qualified education loan funds;
5. Conviction of any felony or of a misdemeanor involving fraud, misrepresentation, or deceit;
6. Entry of a judgment against the licensee involving fraud, misrepresentation, or deceit;
7. Entry of a federal or state administrative order against the licensee for violation of any law or regulation applicable to the conduct of the licensee’s business;
8. Refusal to permit an investigation or examination by the Commission;
9. Failure to pay any fee or assessment imposed by this chapter; or
B. For the purposes of this section, acts of any senior officer, director, member, partner, trustee, or principal shall be deemed acts of the licensee.