A. A certificate expires on the first anniversary of its effective date unless the certificate is renewed for a one-year term as provided in this section. B. Before the certificate expires, a certificate may be renewed for an additional one-year term, if the applicant:
1. Otherwise is entitled to the certificate;
2. Pays the Insurance Commissioner an annual renewal fee in the amount of Five Hundred Dollars ($500.00);
3. Submits to the Commissioner:
a. a renewal application on the form that the Commissioner requires, and b. satisfactory evidence of compliance with any requirement for certificate renewal;
4. Establishes and maintains a complaint system which has been approved by the Commissioner and which provides reasonable procedures for the resolution of written complaints concerning utilization review; and 5. Maintains records of written complaints for five (5) years from the time the complaints are filed and submits to the Commissioner a summary report at such times and in such format as the Commissioner may require.