The division is hereby authorized to suspend or revoke the registration of a vehicle or a certificate of title, registration card or registration plate or any nonresident or other permit in any of the following events:
(1) When the division is satisfied that such registration or that such certificate, card, plate or permit was fraudulently or erroneously issued;
(2) When the division determines that a registered vehicle is mechanically unfit or unsafe to be operated or moved upon the highways;
(3) When a registered vehicle has been dismantled or wrecked;
(4) When a registration card, registration plate or permit is knowingly displayed upon a vehicle other than the one for which issued;
(5) When the division determines that the owner has committed any offense under this article involving the registration or the certificate, card, plate or permit to be suspended or revoked;
(6) When the vehicle is operated by a commercial motor carrier whose authority to operate in interstate commerce has been denied or suspended by the federal Motor Carrier Safety Administration; or
(7) When the division is so authorized under any other provision of law.