Except as provided in subsection (c) of this section, the Board may approve or deny a license renewal if the license holder or a stockholder of the corporation that uses the license has been convicted of a felony. The Board: shall hold a public hearing before approving or denying the license renewal; and may inquire into all relevant facts and circumstances concerning the felony offense at the hearing. In the case of a conviction for a felony that is related to operations under the license, the Board may not approve a license renewal for a license holder or stockholder of a corporation that uses the license until at least 10 years have elapsed after the date of the felony conviction.