(a) The commissioner may revoke a foreign fraternal benefit society's certificate of authority to engage in business in this state if, on the date stated in the notice under Section 885.204, the society:
(1) has not, to the commissioner's satisfaction, removed the commissioner's objections; or
(2) does not present good and sufficient reason why its certificate of authority should not be revoked.
(b) Section 885.203 applies to a decision by the commissioner to revoke a foreign fraternal benefit society's authority to engage in business in this state as if it were a decision to refuse to issue a certificate of authority.