The Director of Finance may refuse a license to any applicant under the provisions of this article if he is of the opinion:
(a) That the applicant is not a suitable person to be licensed.
(b) That the place to be occupied by the applicant is not a suitable place.
(c) That the license should not be issued for reason of conduct declared to be unlawful by this article.
(d) That the law of this State provides for such refusal in the case of an application for a State license.
(1969 Code §14-77)