(a) The Commissioner, based on the application and investigation described in this Subpart, shall enter an order approving or denying approval of the application.
(b) If the Commissioner orders that the proposed State trust company may be formed, the Commissioner shall issue a State trust company charter and a certification to the Secretary of State permitting the establishment of the State trust company. The Commissioner may make approval of any application conditional and shall include any conditions in the order granting the charter.
(c) Any order entered by the Commissioner with respect to a charter application shall be subject to review by the Commission for entry of final agency decision.