When an application for acquisition of control under § 51A-17-72 appears to include all the items and address all of the matters that are required, the application shall be considered complete and the director shall promptly notify the applicant in a record of the date on which the application was determined to be complete and:

1. (1) The director shall approve or deny the application within sixty days after the completion date; or

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

   1. (a) The application is approved; and
   2. (b) The person, or group of persons acting in concert, are not prohibited from acquiring control.
3. (3) The director may for good cause extend the application period.

Source: SL 2024, ch 196 , § 22.