(a)
(1) Upon the receipt of evidence of any violation, the State Board of Collection Agencies shall order a hearing to be held.
(2) All interested parties shall be apprised, at least twenty (20) days before the hearing, as to the time and place of the hearing.
(3) The board shall have authority to summon and examine witnesses, gather information by affidavit and deposition, and subpoena those business records pertinent to the charges, as to any alleged violator.
(4) Revocation, suspension, or refusal to issue shall be by order of the board.
(b) Any party to the proceeding shall have the right to appeal from the order of the board to the Pulaski County Circuit Court which shall try the case. The appeal may be taken by filing a petition with the clerk of the court within thirty (30) days of the date of the decision of the board. The decision of the circuit court shall be appealable to the Supreme Court in the same manner as civil cases are appealed.
(c) In the event that the holder of a license shall fail to secure a renewal thereof, or in the event of the suspension or revocation of the license by the board, and in the event that an appeal is taken to the courts as provided in this section, the holder of the license shall be allowed, during the period of the appeal, to operate the business of a collection agency as though no such action had been taken by the board.