Subject to the notice requirement under subsection (b) of this section, the Executive Director may revoke a license if a licensee: engages in an act or omission that is a ground for discipline under § 16.9–207(a) of this subtitle; or violates this title or Title 12 of the Tax – General Article or regulations adopted under these titles. If a license is revoked under this section: the Executive Director shall give the licensee notice of the revocation; and the revocation may not take effect until at least 5 business days following notice of the revocation. The renewal or expiration of a license will not bar or abate a disciplinary action under this section. Except for a violation of § 10–107 of the Criminal Law Article, whenever any license issued under the provisions of this subtitle is revoked by the Executive Director, the licensee may, before the effective date of the revocation, petition the Executive Director for permission to make an offer of compromise consisting of a sum of money in lieu of serving the revocation. Money paid in lieu of revocation shall be paid into the General Fund of the State. An offer of compromise may not exceed an amount set by regulation. The Executive Director may accept the offer of compromise if: the public welfare and morals would not be impaired by allowing the licensee to operate during the period set for the revocation; and the payment of the sum of money will achieve the desired disciplinary purposes. The Executive Director shall adopt regulations to carry out this subsection.