Within 90 days after the filing of an application for a certificate of authority to operate as a health maintenance organization, the Commissioner shall issue the certificate of authority to the applicant if: The application conforms with § 19-708 of this subtitle; The applicant has paid the fees required by § 19-709 of this subtitle; The Department has advised in writing that the health maintenance organization’s proposed health-related services, operations, and functions that fall under the regulatory jurisdiction of the Department appear to meet its requirements or are approved by the Department; and The Commissioner is satisfied that the requirements of § 19-710 of this subtitle are met. Subject to paragraph (2) of this subsection, the provisions of Title 7 of the Insurance Article apply to health maintenance organizations. Before approving a transaction under § 7-306 of the Insurance Article, the Insurance Commissioner shall consult with the Secretary. Subsection (b) of this section may not apply to any transaction preempted by federal law.