Within 30 days after service of a copy of a decision following hearing, any party may file a petition for rehearing with the Director. The petition shall be in writing and shall contain all the grounds upon which a rehearing shall be granted.

Within 30 days after such filing, the Director shall serve a copy of the petition on the other parties to the proceeding. Within 60 days after service of the petition for rehearing on the nonrequesting parties, the Director shall either grant or deny the petition in whole or in part.

Failure to act upon a petition within this 90-day period shall be deemed a denial of the petition.

If a petition is granted, the Director may set the matter for rehearing before an authorized representative or may reconsider the appeal based solely upon the existing record and arguments provided by the parties.