(a) The commissioner shall issue a certificate of approval to a proposed group on finding that the group has met the requirements of this subchapter.
(b) If the commissioner determines that a proposed group has not satisfied the requirements under this subchapter for a certificate of approval, the commissioner shall issue an order refusing the certificate. The order must set forth the reasons for the refusal.
(c) On issuance of the certificate of approval, the group is authorized to provide workers' compensation benefits.