Denial or revocation of license or termination of contract.

The licensing authority may deny an application for the issuance or renewal of a license to operate a foster care agency, revoke an existing license to operate a foster care agency or terminate a contract to operate a foster care agency if the licensing authority determines that the applicant or person licensed or contracted to operate the foster care agency has made any intentional material misrepresentation or omission of information on an application for the issuance or renewal of such a license or in the process of obtaining the contract.