Before the effective date of a suspension of a license or permit, the license holder or permit holder may make an offer of compromise consisting of money in lieu of serving the suspension. An offer of compromise may not exceed: $2,000 for retail license holders; and $50,000 for other license holders and permit holders. The Executive Director may accept the offer of compromise if: the public welfare and morals would not be impaired by allowing the license holder or permit holder to operate during the period set for the suspension; and the payment of the money will achieve the desired disciplinary purposes. Money in lieu of suspension shall be paid into the General Fund of the State.