Dealer license denial, suspension and revocation.

The motor vehicle division of the taxation and revenue department may deny, suspend or revoke a dealer license for: A. a material misrepresentation communicated by a dealer to the motor vehicle division; B. a lack of fitness as proscribed by rule of the motor vehicle division; or C. a willful violation of a federal or state law relating to the sale, distribution, financing, registration, taxing or insuring of motorboats.