(a)

(1) Before refusing to issue a license or suspending or revoking an existing license upon the verified written complaint of any person setting out a cause of action under § 62-13-312, the commission shall, in writing, notify the accused applicant or licensee of its receipt of the complaint, enclosing a copy of the complaint.

(2) The accused applicant or licensee shall, within ten (10) days, file with the commission the applicant's or licensee's answer to the complaint, a copy of which shall be transmitted to the complainant.

(3) If, after investigation, the commission determines that the matter should have a hearing, a time and place for the hearing shall be set.

(4) If, upon review of the complaint or at anytime thereafter, the commission determines that the complaint was not filed in a timely manner or there is no reasonable cause to believe that the applicant or licensee has engaged in the alleged violation or violations of § 62-13-312, the commission shall issue an order to that effect; and a copy of the order shall be furnished to the complainant, the applicant or licensee and the public officers and persons that the commission deems proper.

(b) All notices and answers required or authorized to be made or filed under this section may be served or filed personally or by registered mail to the last known business address of the addressee. If served personally, the time shall run from the date of service and if by registered mail, from the postmarked date of the letter enclosing the document.

(c) The affirmative vote of a majority of the commission shall be necessary to revoke or suspend a license.

(d) In the event the matter contained in the complaint has been filed or made a part of a case pending in any court in this state, the commission may then withhold its decision until the court action has been concluded.

(e) Any complaint filed with the commission pursuant to this chapter shall be filed within the longer of the following:

(1) Two (2) years from the date of commission of the alleged violation of § 62-13-312 or the date that the complainant actually became aware of the violation;

(2) The applicable statute of limitations set out in § 40-2-101, if the violation of § 62-13-312 also constitutes a criminal offense; or

(3) Ten (10) days after a successful criminal prosecution becomes final, if the violation of § 62-13-312 also constitutes a criminal offense and the time required for prosecution of the offense exceeds the time specified in subdivision (e)(1) or (e)(2).