(1) The articles of incorporation of a proposed new county mutual fire insurer, after due execution and acknowledgment as provided in section 41-3102[, Idaho Code], shall be filed as required by those provisions of section 41-2805[, Idaho Code] (filing of articles) applying to mutual insurers.
(2) After the articles of incorporation have been so filed, the directors shall adopt by-laws, elect officers, and apply to the director for a certificate of authority as a county mutual fire insurer. Upon issuance of the certificate of authority the insurer may commence business as a county mutual fire insurer.