Denial of licenses

31-1-222 . Denial of licenses. Subject to the notice and opportunity for hearing provisions of 31-1-203 , initial licensure or license renewal may be denied by the department on the following grounds: (1) material misstatement of fact or material omission of fact in the application for license or renewal; (2) a civil judgment against the applicant for defrauding a retail buyer in relation to financing terms of a retail installment contract; or (3) having had a sales finance company license or other financial services license revoked by a regulatory agency in any jurisdiction.