(1) The commission may issue a certificate or permit authorizing any telecommunications company which files an application to offer and provide inter-LATA interexchange service. The application shall include such information as required by the rules and regulations of the commission. The commission may as a precondition to issuing a certificate or permit: (a) Require the procurement of a performance bond sufficient to cover amounts due or to become due to other telecommunications companies providing access to the local exchange networks for the applicant and (b) require the procurement of a performance bond sufficient to protect any advances or deposits the telecommunications company may collect from its customers or order that such advances or deposits be held in escrow or trust.

(2) The commission may deny a certificate or permit to any telecommunications company which:

(a) Does not provide the information required by the commission;

(b) Fails to provide a performance bond, if required;

(c) Does not possess adequate financial resources to provide the proposed interexchange service; or

(d) Does not possess adequate technical competency to provide the proposed interexchange service.

(3) Within thirty days after receiving an application, the commission shall approve a certificate or permit or issue a notice of hearing concerning the application. A hearing is only required to deny an application.

(4) Any telecommunications company or its affiliate that has been authorized by the commission to offer an interexchange service prior to January 1, 1987, shall continue to have such authority. Such telecommunications company or affiliate need not file a new application to provide the interexchange service previously authorized by the commission.