1. A notice of suspension or order of removal issued pursuant to sections 361.267, 361.268 and this subsection shall become effective immediately but any director, officer, or other person concerned may, within thirty days of service of any notice of suspension or order of removal, request, in writing, an opportunity to appear before the director to show that the continued service to or participation in the conduct of the affairs of the corporation by such individual does not, or is not likely to, pose a threat to the interests of the corporation’s depositors or threaten to impair public confidence in the corporation.

2. Any hearing provided for in sections 361.262 to 361.269 shall be held in a place which shall be determined by the director, giving due regard for the convenience to both the director and the party requesting the hearing.