51 U.S.C. § 50908 — Effective periods, and modifications, suspensions, and revocations, of licenses

(a) Effective Periods of Licenses. The Secretary of Transportation sets how long each license lasts.

(b) Modifications.
(1) The Secretary may modify a license, either on the Secretary's own initiative or at the licensee's request, if the Secretary decides the change fits this chapter.
(2) The Secretary must modify a license whenever needed so it matches a regulation issued under section 50905(c) after the license was issued. This paragraph doesn't apply to permits.

(c) Suspensions and Revocations. The Secretary may suspend or revoke a license if the Secretary decides that: (1) the licensee hasn't substantially complied with a requirement of this chapter or its regulations; or (2) suspension or revocation is needed to protect public health and safety, property safety, or national security or foreign policy interests.

(d) Additional Suspensions.
(1) The Secretary may suspend a license when a previous launch or reentry under it caused a serious or fatal injury (as defined in the relevant federal rule, 49 CFR 830, as of November 10, 2004), and the Secretary decides continued operations would likely cause more such injuries.
(2) Any suspension under this subsection must be as short as possible, and must end once the Secretary decides either: (A) the licensee has taken enough steps to reduce the risk of it happening again; or (B) the Secretary has modified the license under (b) to sufficiently reduce that risk.
(3) This subsection doesn't apply to permits.

(e) Effective Periods of Modifications, Suspensions, and Revocations. Unless the Secretary says otherwise, a modification, suspension, or revocation takes effect right away and stays in effect during a review under section 50912.

(f) Notification. The Secretary must notify the licensee in writing of the decision and of any action the Secretary takes or plans to take because of it.