| (a) Approval, conditional approval, or denial. Except as otherwise
provided by §21.63 of this title (relating to Expedited Filings), the
banking commissioner shall approve or deny an application filed under this
subchapter on or before a date that is 60 days after the date the application
is accepted for filing pursuant to §21.4 of this title (relating to Required
Information and Abandoned Filings).
(b) Pre-decision hearing. The banking commissioner may, in
the exercise of discretion, before the expiration of the initial period for
decision provided by subsection (a) of this section, give the applicant written
notice that the banking commissioner will convene a hearing to obtain evidence
related to the application. Such notice by the banking commissioner suspends
the specified period for approval or denial of an application, and the banking
commissioner shall approve or deny the application on or before a date that
is 30 days after the date the final proposal for decision resulting from the
hearing is provided to the banking commissioner and the applicant.
(c) Acceptance of conditional approval. The banking commissioner
may give the applicant written notice that the application has been approved
subject to certain conditions. The applicant shall provide the banking commissioner
with written confirmation of acceptance of the conditions on or before a date
that is 10 days after the date of notification to the applicant of the conditional
approval. An agreement between the applicant and the banking commissioner
concerning conditional approval is enforceable against the applicant. In the
event an applicant who has received conditional approval does not provide
the banking commissioner with written confirmation as required by this subsection,
consummation of the transaction constitutes confirmation of acceptance of
the conditions imposed by the banking commissioner and is considered for all
purposes an agreement enforceable against the applicant.
(d) Requests for hearing. An applicant may request a hearing
on or before a date that is 30 days after the effective date of notice of
denial or conditional approval of an application under this subchapter by
the banking commissioner. The request for hearing must be in writing and state
with specificity the reasons the applicant alleges that the decision of the
banking commissioner is in error. The applicant has the burden of proof for
each issue specified in the request for hearing. The request for hearing and
the banking commissioner's decision to deny or condition the application will
be made a part of the record.
(e) Hearings on denial of applications. Requests for hearing
under this subchapter will be forwarded to the administrative law judge who
shall enter appropriate orders and conduct the hearing on or before a date
that is 60 days after the date the request for hearing was received, or as
soon after that as is reasonably possible, under Chapter 9 of this title (relating
to Rules of Procedure for Contested Case Hearings, Appeals, and Rulemaking)
and Government Code, Chapter 2001. A proposal for decision, exceptions and
replies to such proposal for decision, the final decision of the banking commissioner,
and motions for rehearing are governed by Chapter 9 of this title. An applicant
may not appeal denial of an application or conditional approval of an application
until a final order is issued. After a hearing and final order, the applicant
may appeal the final order as provided in Finance Code, §§181.202-181.204.
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