The office may, after notice and upon providing an opportunity for a hearing, under chapter 14 if requested by the parties adversely affected, refuse to issue, refuse to renew, revoke, or suspend a license or solicitor's permit for any of the following grounds:
(2) furnishing to the office false, misleading, or incomplete information;
(3) presenting to prospective students information relating to the school that is false, fraudulent, deceptive, substantially inaccurate, or misleading;
(4) refusal to allow reasonable inspection or supply reasonable information after written request by the office;
(5) the existence of any circumstance that would be grounds for the refusal of an initial or renewal license under section 141.25.
Any order refusing, revoking, or suspending a school's license or a solicitor's permit is appealable in accordance with chapter 14. Where a school has been operating and its license has been revoked, suspended, or refused by the office, the order is not effective until the final determination of the appeal unless immediate effect is ordered by the court.
The office shall have (in addition to the powers and duties now vested therein by law) the following powers and duties:
(a) To negotiate and enter into interstate reciprocity agreements with similar agencies in other states, if in the judgment of the office such agreements are or will be helpful in effectuating the purposes of Laws 1973, chapter 714;
(b) To grant conditional school license for periods of less than one year if in the judgment of the office correctable deficiencies exist at the time of application and when refusal to issue school license would adversely affect currently enrolled students;
(c) The office may upon its own motion, and shall upon the verified complaint in writing of any person setting forth fact which, if proved, would constitute grounds for refusal or revocation under Laws 1973, chapter 714, investigate the actions of any applicant or any person or persons holding or claiming to hold a license or permit. However, before proceeding to a hearing on the question of whether a license or permit shall be refused, revoked or suspended for any cause enumerated in subdivision 1, the office shall grant a reasonable time to the holder of or applicant for a license or permit to correct the situation. If within such time the situation is corrected and the school is in compliance with the provisions of this chapter, no further action leading to refusal, revocation, or suspension shall be taken.