(1) Each telecommunications company shall provide adequate and efficient service to the territory described in its certificate within a reasonable time as prescribed in the commission order. If the telecommunications company fails or refuses to do so, for whatever reason, the commission, in addition to other powers provided by law, may amend the certificate to delete the territory not served or not properly served, or it may revoke the certificate. In addition, the commission, upon a finding that any telecommunications company significantly misrepresented its intention or ability to serve the territory in question, may take such action to impose a penalty upon the telecommunications company as is authorized by general law.
(2) Except as provided in s. 364.33, a telecommunications company may not sell, assign, or transfer its certificate or any portion thereof without:
(a) A determination by the commission that the proposed sale, assignment, or transfer is in the public interest; and
(b) The approval of the commission.