A licensed dealer may not conduct business and store firearms at a location unless: the premises on which the licensed dealer operates is equipped with security features, including: equipment capable of filming and recording video footage inside and outside buildings where firearms are stored; at least one of the following features designed to prevent unauthorized entry installed on all exterior doors and windows of all buildings where firearms are stored: bars; security screens; commercial grade metal doors; grates; or other physical barriers approved by the Secretary; a burglary alarm system that is continually monitored; and if practicable, physical barriers designed to prevent the use of motor vehicles to breach all buildings where firearms are stored; or outside business hours, the licensed dealer locks all firearms stored on the premises in: a vault; a safe; or a room or building that meets the requirements under item (1) of this subsection. A licensed dealer shall notify the Secretary within 24 hours after the dealer first has knowledge that: there has been a burglary, attempted burglary, robbery, or theft involving a firearm or ammunition at the premises on which the licensed dealer operates or where firearms are stored; or a security feature required under subsection (a)(1) of this section has been compromised, including: the failure of equipment to film and record video footage under subsection (a)(1)(i) of this section; the failure of a feature to prevent unauthorized entry under subsection (a)(1)(ii) of this section; the failure of a burglary alarm system to allow for monitoring under subsection (a)(1)(iii) of this section; or the failure of a physical barrier to prevent a breach, if utilized under subsection (a)(1)(iv) of this section. The notice required under paragraph (1) of this subsection is in addition to any report made to the local law enforcement agency or the Bureau of Alcohol, Tobacco, Firearms and Explosives. This subsection does not apply if the equipment or alarm system became temporarily inoperable at no fault of the licensed dealer. A person who violates this section is subject to a civil penalty imposed by the Secretary: for a first violation, not exceeding $250; and for a second or subsequent violation, not exceeding $1,000. In addition to the penalty imposed under paragraph (2) of this subsection, a person who knowingly and willfully violates this section is subject to: for a second offense, suspension of the person’s dealer’s license; and for a third or subsequent offense, revocation of the person’s dealer’s license. The Secretary shall adopt rules and regulations to determine whether a licensed dealer has met the requirements of subsection (a) of this section.