The director or his designee shall review filings as soon as reasonably possible after they have been made in order to determine whether they meet the requirements of this chapter. Subject to the exceptions specified in Sections 38-73-970 and 38-73-980, each filing must be on file for a waiting period of sixty days before it becomes effective. This period may be extended by the director or his designee for an additional period not to exceed sixty days if he gives written notice within the waiting period to the insurer or rating organization which made the filing that he needs additional time for the consideration of the filing. Upon written application by the insurer or rating organization, the director or his designee may authorize a filing which he has reviewed to become effective before the expiration of the waiting period or any extension thereof. A filing meets the requirements of this chapter unless disapproved by the director or his designee within the waiting period or any extension thereof.