(a) Any person charged with a violation of any provision of this chapter for which payment of a prescribed fine may be made, may pay such sum in the manner prescribed on the issued traffic ticket. Such payment shall be deemed a plea of guilty, waiver of court appearance and acknowledgment of conviction of the alleged offense and may be accepted in full satisfaction of the prescribed penalty for such alleged violation. Payment of the prescribed fine need not be accepted when laws prescribe that a certain number of such offenses shall require court appearance.
(b) The fine for a violation of any of the provisions of this chapter shall be eight dollars ($8.00) if paid within ten days, but later than seventy-two hours, from the date of the issuance of the traffic ticket. If the traffic ticket is paid within seventy-two hours of the time and date of issuance, the fine shall be five dollars ($5.00).