(3) When the board has reasonable cause to believe that any person or entity not licensed under this chapter has violated any provision of this chapter or any rule adopted under this chapter, the board may issue an administrative complaint to such person or entity, alleging violation of this chapter and providing notice therein of intent by the board to order such person to cease and desist from the alleged violation of this chapter, to take corrective action, including payment of restitution to persons adversely affected by the violation, to pay the board's reasonable costs of investigation and prosecution, or to impose a fine of up to Five Thousand Dollars ($5,000.00) upon such person for each violation of this chapter alleged in the administrative complaint. When issuing an administrative complaint to such person or entity, the board shall order a hearing for the subject individual or entity to appear and show cause why he/she should not be disciplined for a violation of this chapter. Any party appearing before the board may be accompanied by counsel. The board is vested with full power and authority to hold and conduct such hearings, compel the attendance of witnesses and the production of books, records and documents, issue subpoenas therefor, administer oaths, examine witnesses, and do all things necessary to properly conduct such hearings.