(a) Licenses issued under this article may be revoked, suspended, or not renewed by the administrator for:

(1) Any violation of the substantive provisions of this article;

(2) A violation of any rule or regulation issued by the administrator pursuant to this article; or

(3) A violation of any law of this state.

(b) Licenses shall be revoked or suspended by the administrator only following notice and hearing pursuant to Chapter 13 of Title 50, the "Georgia Administrative Procedure Act."