A hearing may be conducted by the board and the commissioner. After a hearing upon such application the application, conducted in accordance with the provisions of the Kansas administrative procedure act, if the board finds from the evidence presented that such public livestock market for which a market license is sought would beneficially serve the livestock economy, such market license shall be issued by the commissioner to the applicant. In determining whether or not the application should be granted or denied, the board shall give reasonable consideration to:

1. (a) The financial stability and fiduciary responsibility of the applicant.
2. (b) Character references to be supplied in writing by at least three persons selected by the applicant.
3. (c) The livestock industry marketing benefits to be derived from the establishment and operation of the public livestock market proposed in the application.
4. (d) The adequacy of the proposed facilities to permit the performance of proposed market services.
5. (e) The present market services elsewhere available to the trade area proposed to be served.
6. (f) Whether the proposed public livestock market would be continuous.
7. (g) The economic feasibility of the proposed market services.

L. 1965, ch. 333, § 4; L. 1984, ch. 313, § 78; July 1, 1985.