(1) From the date of registration, sponsors shall have ninety (90) days to file petitions with signatures with the Auditor, such petitions bearing the signatures of legal voters in the County equal in number to, but not less than, ten (10) percent of the number of voters who voted in the County at the last gubernatorial election.

(2) Petitions with signatures may be filed at any time during the ninety (90) day period provided by subsection (1) of this section; provided, that the Auditor shall not determine until the expiration of the ninety (90) day period whether sufficient signatures have been filed to validate the petition, unless the sponsor shall so request in writing, and waive his right to submit further petitions with signatures.