Appeal Of Decisions

(1) Admission and Collateral Pledge Level Determinations. An applicant or qualified public depository may appeal any final decision of the Board regarding its application for admission or collateral pledge level determination by filing written notice of appeal with the State Treasurer not later than thirty (30) calendar days after the final decision. An appeal of the Board decision shall be considered a contested case and shall follow the procedures for contested cases in T.C.A., Title 4, Chapter 5, Part 3. BANK COLLATERAL POOL CHAPTER 1700-04-01 (2) Cease and Desist, Suspensions and Withdrawal Determinations. Prior to the issuance of a cease and desist, suspension or mandatory withdrawal order, the Board shall advise the public depository of the facts which warrant the intended action and of the depository’s right to request, within thirty (30) calendar days of receipt of such advice, a contested case hearing to show why the intended action is not warranted. Provided, however, the Board may, prior to affording an opportunity for such hearing, issue a cease and desist order, suspend or require mandatory withdrawal of a public depository if the Board finds that the safety of public deposits imperatively requires such action and incorporates a finding to that effect in its order.