Section 388. Suspension and revocation of registrations

The secretary of
  state shall have the power to revoke or suspend any registration or deny
  any registration upon proof (a) that the  applicant  or  registrant  has
  violated  any  of  the  provisions  of  this  article  or  the rules and
  regulations promulgated hereunder; (b) that the applicant or  registrant
  has  practiced  fraud,  deceit  or  misrepresentation;  or  (c) that the
  applicant or registrant has made a false  statement  in  the  notice  of
  registration.