Section 45-3-203 - Denial of application(a) The commissioner, if unable to make the findings as required by the preceding section, shall endorse upon each copy of the application the word "denied" with the date of the endorsement and attach a written statement of the grounds for the denial.(b) One (1) copy of the proposed application and attached grounds of refusal shall be promptly mailed to at least one (1) of the incorporators by registered or certified mail.Acts 1978, ch. 708, § 1.17; T.C.A., § 45-1317.