When an application for an original license under this chapter appears to include all of the items and addresses all of the matters that are required, the application is complete, and the director must promptly notify the applicant in a record of the date on which the application is determined to be complete.

1. (1) The director must approve or deny the application within one hundred twenty days after the completion date; or

2. (2) If the application is not approved or denied within one hundred twenty days after the completion date:

   1. (a) The application is approved; and
   2. (b) The license takes effect as of the first business day after expiration of the one hundred twenty-day period.
   3. (c) The director may for good cause extend the application period.

Source: SL 2024, ch 196 , § 13.