1. (a) A state bank may appeal an order of the Bank Commissioner to increase its capital stock to the State Banking Board.
2. (b) Notice of the bank’s request for appeal must be served upon the commissioner and the members of the board by personal service or certified mail within ten (10) days of the date the commissioner’s order was issued.
3. (c) A public hearing on the appeal will be held as soon as practicable by the board.
4. (d) Notice of the hearing will be given twenty (20) days prior to the date of the hearing stating the time, date, and location of the hearing.

5. (e) Notice will be:

   1. (1) Provided by United States mail to the parties to the appeal; and
   2. (2) Published one (1) time in a newspaper of statewide circulation.
6. (f) The bank requesting such an appeal will be required to provide a court reporter and transcript of the hearing to the board free of charge.

Codification Notes: This section was promulgated as Section 48-310.1 of the State Bank Department Rules prior to codification into the Code of Arkansas Rules. This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "(Reference A.C.A. 23-48-310)"