Actions to recover penalties under this title shall be brought in the name of the state of Utah. In any such action all penalties incurred up to the time of commencing the same may be sued for and recovered. All fines and penalties recovered by the state in any such action, together with cost thereof, shall be paid into the state treasury to the credit of the General Fund. Any such action may be compromised or discontinued on application of the commission upon such terms as the court shall approve and order.