(a)
(1) If an applicant does not meet the requirements of section 363 of this chapter, the Banking Board shall:
(A) immediately notify the applicant in writing of this fact;
(B) return the bond filed; and
(C) refund the license fee.
(2) The Banking Board shall keep the investigation fee and application fee.
(b) Within 30 days after the Banking Board denies an application, the Banking Board shall:
(1) issue a written decision containing the reasons upon which the denial was based;
(2) send a copy of the decision to the applicant; and
(3) advise the applicant of a right to a hearing.
(c)
(1) An applicant who seeks a hearing on a license application denial shall file a written request for a hearing within 45 days following receipt of the written decision for denial.
(2) A hearing date established in response to the filing of a notice under this subsection may be postponed only once for a period of up to 30 days after the initial hearing date.