(1) The Alcoholic Beverage Control Board is authorized on its own motion to review any action of the Director of the Alcoholic Beverage Control Division in granting or failing to grant, renewing or failing to renew, revoking or suspending, or failing to revoke or suspend upon complaint, any permit and, upon review, to set aside any action of the director in any of these respects.
(2) Any action by the director in any of these respects shall not become effective until the day following the next meeting of the board following the action by the director, and then only if the board fails to make a motion to exercise its right of review.