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In the exercise of its authority in considering racing privileges the commission should follow the following criteria, standards and guidelines by way of illustration without limitation:

(1)  The public interest.

(2)  Misuse of license, permit or privilege by the licensee.

(3)  Misstatement or falsification of, or concerning, application for license.

(4)  The moral and financial standing of licensee or its officers, partners, agents or officials.

(5)  Failure to comply with statutory requirements or the rules, regulations and orders of the commission.

(6)  Dereliction of duty and/or responsibilities.

(7)  Business failure.

Acts 1968, No. 554, §1.