Before granting a certificate of authority to any insurance company to issue policies or make contracts of insurance in this state, the Department of Insurance shall be satisfied by such examination as it may cause to be made or such evidence as it may require that such company is duly qualified under the laws of this state to transact business in this state. The department shall examine a corporation which has received a permit from the department to complete its organization as an insurance company whenever it deems it necessary or prudent to protect shareholders, applicants for membership or for insurance, creditors, or the public.
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