(a) Any cable franchise issued in accordance with the provisions of this chapter may be revoked, altered or suspended by the franchising authority upon the recommendation of the commission to a municipality or county acting as a franchising authority or after a hearing before the franchising authority, for the following reasons:
(1) For making material false or misleading statements in, or for material omissions from, any application or proposal or other filing made with the franchising authority;
(2) For repeated failure to maintain signal quality under the standards prescribed by the commission;
(3) For any sale, lease, assignment or other transfer of its cable franchise without consent of the franchising authority;
(4) Except when commercially impracticable, for unreasonable delay in construction or operation or for unreasonable withholding of the extension of cable service to any person in a service area;
(5) For material violation of the terms of its cable franchise;
(6) For failure to substantially comply with this chapter or any rules, regulations or orders prescribed by the commission;
(7) For substantial violation of its filed schedule of terms and conditions of service; and
(8) For engaging in any unfair or deceptive act or practice.
(b) In lieu of, or in addition to, the relief provided by subsection (a) hereof, the franchising authority may fine a cable operator, for each violation under the provisions of this section, in an amount not less than $50 nor more than $5,000 for each violation. Each day's continuance of a violation may be treated as a separate violation pursuant to rules and regulations adopted by the commission. Any penalty assessed under this section shall be in addition to any other costs, expenses or payments for which the cable operator is responsible under other provisions of this chapter.