Subject to the provisions of § 1-505 of this subtitle, if a licensing authority receives notification under § 5-810 of the Criminal Law Article that a licensee has been convicted of a drug crime committed on or after January 1, 1991, the licensing authority may:

            (1)      (i)      Place the licensee on probation for a reasonable period of time; or

                  (ii)      Suspend or revoke the license or reprimand the licensee;

            (2)      Assess the licensee, in accordance with applicable regulations, all or part of the cost of any disciplinary proceeding and sanction; or

            (3)      Impose any other sanction or take any other action authorized by law.