After the filing of a complete application, the Commissioner shall investigate the financial condition and responsibility, financial and business experience, character, and general fitness of the applicant. Unless the Commissioner notifies the applicant that a different time period is necessary, the Commissioner shall approve or deny each application for a license within 60 days after the date a complete application is filed. The applicant may by written request to the Commissioner withdraw the application at any time before the issuance of the license. The Commissioner shall issue a license to any applicant who meets the requirements of this subtitle. If an applicant does not meet the requirements of this subtitle, the Commissioner shall: Notify the applicant immediately of this fact; Subject to the hearing provisions of § 12–428 of this subtitle, deny the application; Return the surety device filed under § 12–407 of this subtitle; and Keep the license fee and the investigation fee. Within 30 days after the Commissioner denies an application, the Commissioner shall state the reasons for the denial in writing and mail them to the address listed in the application.