Sec. 214.5. Commission action on application and term

(a) The commission shall grant or deny a complete, original application for such a license within 120 days of its receipt thereof. A failure of the commission to observe the time limitations of this subdivision shall be reviewable in a proceeding in the nature of mandamus under article 78 of the Civil Practice Law and Rules and shall in no event be construed as an application approval.

(b) Unless revoked or suspended, a license as an authorized sanctioning entity shall be valid for a term of two years from its date of issuance. Such license may be renewed by application therefor for an additional two year term. Such renewal application must be received by the commission not less than 30 nor more than 60 days prior to the expiration date of the license.