1.  The Commissioner shall suspend the authorization of a private carrier to provide industrial insurance for 1 year if, after a hearing thereon, the Commissioner finds that the private carrier has intentionally or repeatedly failed to comply with the provisions of chapters 616A to 616D, inclusive, or chapter 617 of NRS or the regulations of the Division or the Commissioner.

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2.  A hearing to determine whether the authorization of a private carrier to provide industrial insurance will be suspended pursuant to subsection 1 must be conducted by the Commissioner pursuant to the provisions of NRS 679B.310 to 679B.370, inclusive, the regulations adopted pursuant thereto and the provisions of chapter 233B of NRS concerning adjudication of contested cases. A record of the hearing must be kept but it need not be transcribed unless requested by the private carrier. The cost of transcription must be charged to the private carrier.