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: Instead of suspending or revoking the license; or In addition to placing the licensee on probation or suspending or revoking the license. The Board shall pay any penalty collected under this section into the General Fund of the State.