(1) A public hearing must be conducted upon all accepted applications for a charter in accordance with the Montana Administrative Procedure Act relating to a contested case.

(2) Applicants will be notified of official acceptance of applications for charters.   Upon receipt of such notification, the applicant shall, within five days, cause notices to be published in newspapers of general circulation throughout the state, so as to provide statewide notification to any interested parties of their right to protest the application.

(3) Any person desiring to protest an application must notify the department in writing of the intent to protest, setting forth the reasons for the protest, within 15 days of the date of the publication of the notice described above.

(4) The applicant and all persons timely filing notice of intent to protest an application required by this regulation shall be notified of the date for a public hearing before the board as established by the department.   The hearing must be conducted no sooner than 30 days and no later than 90 days following the mailing of the notification of official acceptance of the application for a foreign capital depository charter.   Intention to appear at such hearing by an individual filing a protest must be filed in writing with the commissioner within 15 days from the date of notification of a hearing date or the publication of notice, whichever is later.   Failure to file notice of an intention to appear at the hearing shall constitute grounds for dismissal of the protest by the commissioner.