A licensee of BISM may petition the Chairman of the Board of Trustees for a ruling on the applicability of any regulation or of any statute to this licensee. The petition shall state the regulation or statute to be considered and a concise statement of the facts. The petition shall contain all statutes, judicial decisions, or regulations relevant to the issue. The petitioner may request a hearing to present any argument in support of the issue. The Chairman of the Board of Trustees, within 30 days from the presentation of the petition or the hearing, shall render a declaratory ruling on the petition. Any declaratory ruling may be modified or reversed by the adoption of regulations after the ruling as provided in Article 41, §245, Annotated Code of Maryland. Copies of all declaratory rulings shall be recorded in the office of BISM.