Any affected party may waive its rights to a hearing on any notice of charges by stipulating and consenting to:

(1) The issuance of a permanent cease and desist order; or

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Terms Used In Hawaii Revised Statutes 412:2-305

(2) The conversion of a temporary cease and desist order into a permanent cease and desist order.

Any cease and desist order issued by consent shall be effective as of the date specified therein and shall remain effective until modified or terminated by the commissioner.