The Commissioner shall issue a certificate of authority to the applicant when it is shown to the Commissioner's satisfaction that:
(1) The applicant is established as a bona fide nonprofit health service corporation;
(2) Arrangements have been made by the applicant reasonably to assure provision of the services covered by its contracts and riders;
(3) The amounts provided as working capital of the corporation are repayable, without interest, only out of operating revenues;
(4) The amount of money actually available for working capital is sufficient to carry on the plan for a period of 2 months from the date of issuance of the certificate of authority.