(a)      In lieu of or in addition to suspension of the license, the Board may impose a penalty of not more than $5,000.

      (b)      In addition to revocation of the license, the Board may impose a penalty of not more than $5,000.

      (c)      Penalties collected by the Board under this section shall be paid into the General Fund of the State.

      (d)      The Board shall establish such rules and regulations as are necessary to carry out the provisions of this section.