(A) The department shall issue a preliminary license to a person filing an application pursuant to Section 37-11-30 if, upon payment of the application fee, it determines that:
(1) the feasibility study satisfies the requirements in Section 37-11-40(B) and demonstrates the project is feasible;
(2) the continuing care contracts and the operator's disclosure statement meet the requirements prescribed by this chapter;
(3) the facility's advertising and promotional materials are not deceptive, misleading, or likely to mislead;
(4) the facility has in effect its complaint system;
(5) the applicant has demonstrated the willingness and potential ability to provide health care or health-related services in a manner that assures availability and accessibility of adequate personnel and facilities, and in a manner that assures continuity of service;
(6) the escrow agreement and any reservation agreement state that all deposits will be held in escrow and released in accordance with Section 37-11-90.
(B) The department shall issue a license to a person filing an application pursuant to Section 37-11-30 if, upon payment of the application fee, the department is satisfied that:
(1) the persons responsible for the conduct of the affairs of the applicant are competent and trustworthy and possess good reputations;
(2) the continuing care retirement community is financially responsible and can meet its obligations to residents;
(3) the operator has demonstrated the willingness and potential ability to assure that the health care or health-related services will be provided in a manner to assure both availability and accessibility of adequate personnel and facilities and in a manner assuring availability, accessibility, and continuity of service;
(4) the operator has complied with all requirements of the Department of Health and Environmental Control concerning the furnishing of nursing, medical, or other health-related services.