(a) Subject to the hearing provisions of §§ 11-309 and 11-310 of this subtitle, the Commission may deny a license to an applicant or discipline a licensee in accordance with this section.
(b) The Commission may deny a license to any applicant for any reason that the Commission considers sufficient.
(c) (1) The Commission may reprimand any licensee or suspend or revoke a license if the licensee violates:
(i) this title;
(ii) a regulation adopted under this title; or
(iii) a condition set by the Commission.
(2) The Commission shall suspend or revoke a license if the applicant or licensee fails to:
(i) keep records and make reports of ownership of stock that are required under § 11-314 of this subtitle; or
(ii) make a reasonable effort to get affidavits required under § 11-314(b) and (c) of this subtitle.
(d) (1) The Commission may impose a penalty not exceeding $5,000 for each racing day that the licensee is in violation of subsection (c) of this section:
(i) instead of suspending or revoking a license under subsection (c)(1) of this section; and
(ii) in addition to suspending or revoking a license under subsection (c)(2) of this section.
(2) To determine the amount of the penalty imposed under paragraph (1) of this subsection, the Commission shall consider:
(i) the seriousness of the violation;
(ii) the harm caused by the violation; and
(iii) the good faith or lack of good faith of the licensee.
(3) A penalty imposed on a licensee shall be paid from the licensee’s share of the takeout.