(a) The commission shall notify the permit holder in writing of its decision to release or not to release all or part of the bond or deposit:
(1) not later than the 60th day after the date the request is filed if a public hearing is not held; or
(2) not later than the 30th day after the date of the hearing if a public hearing is held.
(b) If the commission disapproves the application for release of all or part of the bond, it shall notify the permit holder, in writing:
(1) stating the reasons for disapproval;
(2) recommending corrective actions necessary to secure the release; and
(3) allowing opportunity for a public hearing.