An accrediting organization is not an approved accrediting organization for the purposes of Insurance Article, §15-601, Annotated Code of Maryland, until the Commissioner issues a letter of approval to the accrediting organization. For the purpose of determining which entities are approved accrediting organizations, the Commissioner shall consider whether: The accreditation standards required to be met for accreditation by the accrediting organization meet or exceed the requirements of Insurance Article, §§15-1614 and 15-1617, Annotated Code of Maryland; The accrediting organization measures an applicant's pharmacy and therapeutics committee's ability to meet each standard; and The accrediting organization agrees to notify the Commissioner at least 30 days in advance if it revises its accreditation standards that pertain to a pharmacy and therapeutics committee or changes the method in which it reviews a pharmacy and therapeutics committee of an applicant. An accrediting organization continues to be approved by the Commissioner until notified in writing by the Commissioner that its approval has been withdrawn.