In the event the president, after investigation and hearing, shall determine that any license to conduct and operate a taxicab business has been obtained by fraud or false representation made before the issuance of such license, the president may, in his discretion, suspend or revoke any such license previously issued.
In the event any owner or operator shall default in the performance of any of the conditions or obligations imposed upon such licensee by this code or any other ordinance applicable to such licensee, and if such default or violation shall continue for a period of ten days after written notice thereof from the village clerk citing said default or violation, then in such case the president may suspend or revoke the license to conduct and operate said taxicab business and all licenses for taxicabs held by such licensee.