For an organization that seeks to contract to offer an MA plan under this subpart, CMS may waive the State licensure requirement of section 1855(a)(1) of the Act if--
(a) The organization requests a waiver no later than November 1, 2002; and
(b) CMS determines there is a basis for a waiver under Sec. 422.372. [63 FR 25376, May 7, 1998, as amended at 63 FR 35098, June 26, 1998]