Sec. 30. (a) If, after seven (7) days from the date of disablement or any time, in case of death, the employer and the employee or his dependents reach an agreement in regard to compensation under this chapter, a memorandum of the agreement in the form prescribed by the worker's compensation board shall be filed with the board; otherwise such agreement shall be voidable by the employee or his dependent.
(b) If approved by the board, the memorandum shall for all purposes be enforceable by the court decree as specified in this chapter.
(c) An agreement under this section shall be approved by the board only when the terms conform to this chapter.