[§245-29]  Suspension or reduction of privilege to purchase on deferred-payment basis.  The department may suspend, without prior notice, the privilege to purchase stamps on the deferred-payment basis or may reduce the amount of deferred-payment purchases allowed the licensee if:

     (1)  The licensee fails to promptly pay for stamps when payment is due;

     (2)  The bond or bonds required of the licensee are canceled or become void, impaired, or unenforceable for any reason; or

     (3)  In the opinion of the department, collection of any amounts unpaid or due from the licensee under this chapter is jeopardized. [L 2000, c 249, pt of §1]