(1) It is the desire and intent of the board that any lessee or prospective lessee be given full and adequate opportunity to be heard with respect to any matter affecting the interests of the lessee in any particular lease. Any hearing will be conducted informally, without adherence to the strict rules of evidence of a court of law.

(2) A verbatim, written record of any hearing or rehearing will be made if any party in interest so requests not less than 5 days prior to the day set for hearing, and provided the requesting party agrees to pay the cost thereof, including the cost of the original copy of the transcript which shall become a part of the case record and remain on file with the department. The party requesting such verbatim record may be required to deposit in advance the anticipated cost of the record. If such written record is made, it shall be certified as true, correct and complete.