405-C:9 Approval or Disapproval. –
I. Within 120 days of receipt of an application, the commissioner shall either approve or disapprove an application for a license for the formation of the arrangement. If the commissioner denies a request for approval, the commissioner shall specify in detail the reasons for denial.
II. The arrangement shall not engage in an act or practice that in any respect significantly differs from the management and operation plan that formed the basis for the commissioner's approval of the program unless the program first notifies the commissioner in writing and obtains the commissioner's approval. The commissioner shall approve or disapprove the proposed change within 60 days of receipt of the notice. If the commissioner denies a requested change, the commissioner shall specify in detail the reasons for the denial.