(a) If a licensee fails to do either of the following, the commissioner shall impose a penalty in a sum of up to one hundred dollars ($100) for every day late:
(1) To make any report required by law or by the commissioner within 10 days from the day designated for the making of the report, or within any extension of time granted by the commissioner.
(2) To include therein any matter required by law or by the commissioner.
(b) The commissioner may by order summarily suspend or revoke the license if a licensee fails to file any report required by this division.