(A) The commission shall regulate every motor carrier in this State and fix or approve the classifications and regulations pertaining to each motor carrier, except as provided in § 58-23-20.

(B) As to holders of a certificate E, the carrier shall file a maximum rate schedule with the commission. The commission must post the maximum rate schedule filing within one business day of receipt. The new maximum rate schedule shall go into effect one business day following the commission’s posting of the new schedule. Holders of certificate E shall have the flexibility for adjustment of the rates below the maximum rate levels without commission approval. The commission shall publish the maximum rate schedule on its website.