(a) Upon the hearing of an appeal from an order imposing any sanction upon a licensee in accordance with section 431:9A-112, the court may impose a fine of not more than $10,000 in lieu of the commissioner's action, and payment of that fine within ten days of the court's order shall result in the acceptance of the licensee's application or the reinstatement, restoration, or extension of that license if:
(1) The court finds that the licensee violated the law; and
(2) The court deems the sanction imposed too severe a penalty under the facts as found.
(b) If the licensee has previously been sanctioned for a similar offense, the court shall not have jurisdiction to impose a fine in lieu of the commissioner's action.