366

(a)\n(1) If an applicant does not meet the requirements of section 363 of this chapter, the Banking Board shall:\n(A) immediately notify the applicant in writing of this fact;\n(B) return the bond filed; and\n(C) refund the license fee.\n(2) The Banking Board shall keep the investigation fee and application fee.\n(b) Within 30 days after the Banking Board denies an application, the Banking Board shall:\n(1) issue a written decision containing the reasons upon which the denial was based;\n(2) send a copy of the decision to the applicant; and\n(3) advise the applicant of a right to a hearing.\n(c)\n(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.\n(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.