If a dealer fails to comply with a cease and desist order issued pursuant to § 32-6B-41.1, the secretary may issue an order which:

(1) Imposes a monetary penalty on the dealer of five hundred dollars for each violation of the cease and desist order;

(2) Suspends dealer’s license for not more than thirty days; or

(3) Revokes the dealer’s license.

All monetary penalties collected pursuant to this section shall be deposited into the state motor vehicle fund.

Source: SL 2005, ch 162, § 4.