The Association shall decide on all controversies involving the rules and regulations, including any waiver thereof, adopted pursuant to this chapter, and any waiver of the ineligibility in § 410(a) of this title. Any party to such a controversy may appeal to the state Board by setting forth such grievance in a petition which shall be served upon the Executive Director of the Association by certified or registered mail within 30 days after receiving notice of the decision. The state Board shall provide by rules and regulations for adequate procedures for the hearing of any such appeal and shall decide the controversy. All such appeals shall be on the record, and the state Board shall overturn the Association's decision only if it decides that the Association's decision was not supported by substantial evidence or was arbitrary or capricious. The decision of the state Board shall be final and not subject to further appeal.