R 432.1505 Denials; request for hearing.

Rule 505. (1) If the board denies an application for transfer of an ownership interest covered by this part, it shall issue an order of denial to the applicant for qualification to acquire and hold the ownership interest. (2) A person applying for qualification to acquire and hold an ownership interest subject to this part who is served with an order of denial under this rule may request a hearing. (3) If the person applying for qualification to acquire and hold an ownership interest subject to this part does not request a hearing, the order of denial becomes the final order of the board. (4) Unless specifically stated to the contrary, an order of denial of an application for qualification to acquire and hold an ownership interest under this rule does not constitute a finding that the applicant is not suitable for licensure.