1. Upon receipt by the director from any foreign corporation of an application in proper form for leave to do business in this state under the provisions of this chapter, he or she shall, by such investigation as he or she may deem necessary, satisfy himself or herself whether the applicant may safely be permitted to do business in this state.
2. If from such investigation he or she shall be satisfied that it is safe and expedient to grant such application and it shall have been shown to his or her satisfaction that such applicant may be authorized to engage in business in this state pursuant to the provisions of this chapter and has complied with all the requirements of this chapter, he or she shall issue a license under his or her hand and official seal authorizing such applicant to carry on such business at the place designated in the license and, if such license is for a limited time, specifying the date upon which it shall expire.
3. Whenever any such license is issued for one year or less, the director may, at the expiration thereof, renew such license for one year.