1. (a) The commissioner's order of conservation is final, unless, within 20 days of service of the order, the credit union's former board of directors files a written request for hearing.
2. (b) If a request for hearing is timely filed, the commissioner shall forward the matter to SOAH to set a hearing not sooner than ten days nor more than 30 days from the date of receipt of the request for hearing.
3. (c) The credit union's former board of directors has the burden to prove by a preponderance of the evidence that the board should regain control of the credit union.
4. (d) The SOAH hearing on an order of conservation is closed to the public. The ALJ shall limit those in attendance at the hearing to persons deemed necessary to administer and record the proceedings, represent the parties' interests and present relevant evidence. All orders and correspondence relating thereto are confidential and may not be revealed to the public.
5. (e) The deadline for filing exceptions to the PFD shall be within five days of the date of service of the PFD. Replies to exceptions shall be filed within 8 days of the date of service of the PFD.

Source Note:The provisions of this §93.501 adopted to be effective August 10, 1999, 24 TexReg 6027.