Section 24B. The board shall forthwith establish standards to be met by schools or colleges of pharmacy and when, in the opinion of the board, such standards have been met by any school or college of pharmacy, a certificate of approval shall be awarded to such approved school or college of pharmacy; provided, that if at any time such approved school or college of pharmacy has, in the opinion of the board, lowered its standards below that established by the board, such certificate, after notice and hearing, may be revoked by the board. No person, school or college of pharmacy or other institution of learning shall establish, conduct or offer any course in pharmacy for residents or non-residents of the commonwealth unless and until such course meets the standards established by the board under authority of this section. Whoever violates any provision of this section shall be punished by a fine of not less than one hundred nor more than one thousand dollars, or by imprisonment for not more than one year, or both.