Following the filing of charges, if a majority of the quorum of a disciplinary panel finds that there are grounds for action under § 14–404 of this subtitle, the disciplinary panel shall pass an order in accordance with the Administrative Procedure Act. After the charges are filed, if a disciplinary panel finds, on an affirmative vote of a majority of its quorum, that there are no grounds for action under § 14–404 of this subtitle, the disciplinary panel: Immediately shall dismiss the charges and exonerate the licensee; Except as provided in item (ii) of this item, shall expunge all records of the charges 3 years after the charges are dismissed; or If the physician executes a document releasing the Board from any liability related to the charges, shall immediately expunge all records of the charges; and May not take any further action on the charges.