A. The Secretary may deny, suspend, or revoke a preliminary, initial, or renewal certificate of registration for cause. Cause for denial, suspension, or revocation includes, but is not limited to the following:
(1) Violations of the provisions of the Act;
(2) Violations of regulations in this chapter;
(3) Misrepresentations of fact to the Department or to subscribers;
(4) Submission of false financial information to the Department;
(5) Failure to prepare or implement an adequate corrective financial plan when found to be in financial difficulty; or
(6) Agreement terms or provisions that:
(a) Violate the Act,
(b) Violate regulations in this chapter, or
(c) Are not approved by the Department.
B. The denial, suspension, or revocation of a certificate of registration is an action of the Secretary that may be appealed in accordance with Regulation .36 of this chapter.