The commissioner may disapprove any form filed under Section 27-14-8 or withdraw any previous approval thereof only if the form:
(1) Is in any respect in violation of, or does not comply with, this title;
(2) Contains or incorporates by reference, where such incorporation is otherwise permissible, any inconsistent, ambiguous, or misleading clauses or exceptions and conditions which deceptively affect the risk purported to be assumed in the general coverage of the contract;
(3) Has any title, heading or other indication of its provisions which is misleading;
(4) Is printed, or otherwise reproduced, in such manner as to render any provision of the form substantially illegible; or
(5) Contains provisions which are unfair, or inequitable, or contrary to the public policy of this state or which would, because such provisions are unclear or deceptively worded, encourage misrepresentation.