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