The Chief Judge of the District Court of Maryland may establish, by administrative regulation under the provisions of § 1-605 of the Courts and Judicial Proceedings Article, a schedule of prepayable fines for first offense misdemeanor violations of this article and regulations adopted under this article. The amount of a prepayable fine may be no more than the maximum and no less than the minimum criminal penalty established by the General Assembly in this article. By paying a fine set under this section in lieu of appearing for trial in District Court, a person is voluntarily accepting a conviction for the offense charged.