(1) The tax administrator may, upon written request of a dealer, cancel a license issued to that dealer. The tax administrator shall, upon approving the dealer’s request for cancellation, set a date not later than 30 days after receipt of the written request, after which the license shall no longer be effective.

(2) The tax administrator may, after 30 days’ notice has been mailed to the last known address of the dealer, cancel the license of dealer upon finding that the dealer is no longer engaged in the business of a dealer.