(1) If the commission finds that the proposed brownfield agreement complies with this article and regulations, the commission, by order, shall approve the proposed brownfield agreement. After approval of the brownfield agreement, the executive director and the brownfield party shall execute the brownfield agreement.

(2) The commission may enter into a brownfield agreement as proposed by the department or may modify that agreement before entering into it. The commission subsequently may modify any brownfield agreement by entry of an order. The commission orders issued under this article shall be reviewable as provided in Section 49-17-41. The commission may disapprove a proposed brownfield agreement or decline to enter into a brownfield agreement by entry of an order. In the order, the commission shall state the reasons for disapproval of the agreement or declining to enter into the agreement.

(3) Until the executive director issues a “no further action” letter under Section 49-35-15, approval from the commission shall be required for any sale, conveyance or other change in surface ownership of any portion of the brownfield agreement site owned by the brownfield party desiring to make the change in ownership, if the new surface owner will perform any obligations under the brownfield agreement. That brownfield party and the new surface owner jointly shall provide information satisfactory to the commission that the new surface owner has the financial, managerial and technical resources to complete performance of the brownfield agreement obligations to be transferred and that the new surface owner agrees to complete this performance. If the commission determines that the new surface owner has the financial, managerial, and technical resources to complete this performance and has agreed to do so, the commission shall issue an order approving the transfer.

(4) Except for orders issued under subsections (1) and (2) of this section and Section 49-35-13(2), the commission, under any conditions it may prescribe, may authorize the executive director to issue any orders required under this article. A decision by the executive director shall be a decision of the commission and shall be reviewable as provided under Section 49-17-41.