(a) The commissioner shall approve, deny, or disapprove an application for an initial certificate of authority that meets the requirements of Section 846.053 not later than the 60th day after the date on which the application is filed.
(a-1) On the applicant's request, the commissioner shall hold a hearing on a denial. Not later than the 30th day after the date of the applicant's request for a hearing, the commissioner shall request a hearing date.
(b) An initial certificate of authority is a temporary certificate issued for a one-year term.
(c) On receipt of the initial certificate of authority, the multiple employer welfare arrangement shall begin business.