(a) In lieu of instituting or continuing an action pursuant to this chapter, the Director may accept written assurance of discontinuance of any act or practice in violation of this chapter from the person or persons who have engaged in such acts or practices. Such assurance shall include a stipulation for voluntary payment by the violator of the costs of investigation by the Director and shall also include a stipulation for the restitution by the violator to consumers, of money, property or other things received from them in connection with a violation of this chapter, including money necessarily expended in the course of making and pursuing a complaint to the Director. All settlements shall be made a matter of public record.
(b) If such stipulation applies to consumers who have been affected by the violator's practices but have not yet complained to the Director, the assurance must be approved by the court, which shall direct the minimum means by which potential claimants shall be notified of the stipulation. A consumer need not accept restitution pursuant to such a stipulation; however, his acceptance shall bar recovery of any other damages in any action by him against the defendant or defendants on account of the same acts or practices.
(c) Violation of an assurance entered into pursuant to this section shall be treated as a violation of this chapter, and shall be subject to all penalties provided herein.