(1) If upon completion of its application the director finds, from the application, the attorney general’s opinion referred to in section 41-320[, Idaho Code], and such other investigation and information as he may make or acquire, that the insurer is fully qualified for and entitled thereto under this code, he shall issue to the insurer a proper certificate of authority; if he does not so find, the director shall issue his order refusing such authority.
(2) The director and attorney general shall take all necessary action therefor as specified in section 41-320[, Idaho Code,] and this section, and shall either issue or refuse to issue a certificate of authority within a reasonable time after the completion of the application for such authority.
(3) The certificate of authority, if issued, shall specify the kind or kinds of insurance the insurer is authorized to transact in this state. At the insurer’s request, the director may issue authority limited to particular types of insurance or insurance coverages within the scope of a kind of insurance as defined in chapter 5 of this code [chapter 5, title 41, Idaho Code].