1. Upon receipt of a completed application for a certificate of authority and exhibits and payment of the fee by the applicant, and proof of compliance by the applicant with the provisions of sections 376.940 and 376.945, the department shall issue a certificate of authority to the provider subject to the conditions imposed pursuant to sections 376.940 and 376.945 allowing the provider to enter into life care contracts with respect to the number of living units and facility described in the application for a certificate of authority.
2. A certificate of authority issued under this section, unless sooner revoked, shall be issued for a period of one year.
3. A certificate of authority issued pursuant to this section shall contain, in a prominent location, a statement that the issuance of a certificate of authority pursuant to this section does not constitute approval, recommendation, or endorsement by the department, nor does such a certificate of authority evidence the accuracy or completeness of the information set out in the application or the annual report of the provider.
4. All certificates of authority shall be nontransferable.