Notwithstanding any other provisions of this article, the Board may enter into a stipulated settlement with a permittee served with an accusation as provided in Section 102.04 of this article. Such stipulation shall include an express waiver of the permittee’s hearing rights and a concise statement of the penalty to be imposed for the alleged misconduct. After the permittee or the permittee’s legal representative has agreed to and signed the stipulated settlement, it shall be presented to the Board for approval. If the Board approves, the penalty shall immediately take effect and no further proceedings otherwise required by the provisions of this article shall be deemed necessary. If the proposed settlement is disapproved by the Board, the permittee shall be so notified and shall at the same time be notified as to a hearing date pursuant to the provisions of Section 102.05 and 102.07 of this Code. (Added by Ord. No. 152,042, Eff. 4/14/79.)