If an MLS is doing business in this State on June 30, 2009 and has filed an application for registration by July 31, 2009, it shall be deemed in compliance with the registration requirements of this Part until it has been notified by the superintendent that its application has been denied, in which case it shall immediately transfer its servicing rights in this State to an authorized mortgage loan servicer. If a person is required to file an application for a license solely because of the amendments to this Part that were effective August 23, 2011, so long as it has filed an application that is substantially complete by the 30th day after such effective date and expeditiously provides such additional information as may be required by the superintendent, such person may continue to operate without a license, until it is notified by the superintendent that its application has been denied or until six months after such effective date, whichever is earlier.