(a) If, after the Board brings an action under § 7-316 of this subtitle, the Board finds that there are grounds to place a licensee on probation or suspend or revoke a license, the Board may impose a penalty not exceeding $5,000:
(1) Instead of suspending or revoking the license; or
(2) In addition to placing the licensee on probation or suspending or revoking the license.
(b) The Board shall pay any penalty collected under this section into the General Fund of the State.