Informal disposition in contested cases

(a) Unless precluded by law, informal disposition may be made of any contested case by stipulation, agreed settlement, consent order or default. An agreement may be negotiated by a party or his attorney and the designated representative of the agency. The acceptance of an agreement is within the discretion of the commissioner. (b) An agreement shall contain: (1) The signature of each agreeing party or his attorney; and (2) The signature of the commissioner accepting and approving the agreement. (c) An agreement may also contain: (1) An admission of all jurisdictional facts; (2) An express waiver of the right to seek judicial review or otherwise challenge or contest the validity of the agreement or any order contained therein; (3) An express waiver of any requirement that the decision of the agency contain findings of fact and conclusions of law; (4) A provision that the complaint may be used in construing the terms of the agreement or any order contained therein; (5) A statement that the agreement or order contained therein shall have the same force and effect as an order entered after a full hearing; (6) A statement that the agreement or order shall not be effective until accepted and approved by the commissioner; and (7) Any other appropriate provisions.