1. Not later than 24 months after the date on which the Secretary of State issues a certificate of authority pursuant to NRS 711.500 and 711.510 or an amended certificate of authority pursuant to NRS 711.520, the holder of the certificate must have the capability to offer and provide video service to at least one subscriber who resides within the territorial boundaries of each service area authorized by the certificate or the amended certificate.
2. If a holder fails to comply with the provisions of subsection 1, the holder’s certificate of authority shall be deemed to be revoked by operation of law without the need for any notice, hearing or action by the Secretary of State.