1. (a)

   1. (1) A protest may be filed with the Bank Commissioner as to the filing of:

      1. (A) A branch application;
      2. (B) An expedited branch application; or
      3. (C) A mobile branch application.
   2. (2) The following rules govern such protest.

2. (b) Formal protest.

   1. (1) Each bank, corporation, or individual must file with the commissioner a formal written protest within fifteen (15) calendar days of the actual filing of:

      1. (A) A branch application;
      2. (B) An expedited application; or
      3. (C) A mobile branch application.
   2. (2) The written protest must include a specific reason or reasons for protesting the application.

   3. (3) The following fees apply:

      1. (A) Expedited branch application.

3. (i) A fee of three hundred dollars ($300) is required to be paid when filing a formal protest to an expedited branch application.

   1. (ii) The fee must accompany or precede the formal written protest;

      1. (B) Standard branch application.

         1. (i) A fee of five hundred dollars ($500) is required to be paid when filing a formal protest to a branch application.
         2. (ii) The fee must accompany or precede the formal written protest; and

      2. (C) Mobile branch application.

         1. (i) A fee of three hundred dollars ($300) is required to be paid when filing a formal protest to a mobile branch application.
         2. (ii) The fee must accompany or precede the formal written protest.
         3. (c) Letters of opposition. Any aggrieved bank, corporation, or individual may file a letter of opposition (not an official protest) to a branch application, an expedited branch application, or a mobile branch application without incurring any liability for the fee assessed to formal protesting parties.
         4. (d) Date of filing. Formal written protests and letters of opposition filed with the commissioner under this section are considered filed on the date stamped as filed by the commissioner.

4. (e) Public hearing at commissioner’s discretion.

   1. (1) The commissioner at his or her discretion, regardless of whether any formal protest or letters of opposition were filed, may hold a public hearing on:

      1. (A) A branch application;
      2. (B) An expedited branch application; or
      3. (C) A mobile branch application.
   2. (2) If a hearing is to be held, the commissioner shall give notice in a newspaper of statewide circulation once at least ten (10) days prior to the date of the hearing.
   3. (3) Further, the commissioner shall notify by mail the party or parties filing the application and official protestant or protestants at least ten (10) days prior to the hearing.

Codification Notes: This section was promulgated as Section 48-703.3 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. § 23-48-703)"