(1) Within five (5) business days of receiving a timely request for hearing, the department will schedule the administrative hearing date and notify the obligor and any co-owners by mail. Upon receiving the request for hearing, the department shall notify the financial institution that it must continue to hold the asset until an order is issued and the department provides instructions for the disposition of the asset pursuant to section 32-1612, Idaho Code.
(2) The department will hold an administrative hearing within thirty (30) days from the day the department receives the request for hearing.