The commissioner shall approve the application and issue a certificate of approval which shall be endorsed upon or annexed to the certificate of incorporation if he finds that:
a. The establishment of the company is in the public interest; and
b. Will be of benefit to the area proposed to be served; and
c. The amount of the capital stock appears adequate or if he deems it inadequate the amount of capital stock or other form of capital investment he deems appropriate; and
d. The company will have a reasonable prospect of success; and
e. The character, responsibility and general fitness of the incorporators command confidence and warrant belief that the business of the company will be honestly and efficiently conducted; and
f. The name proposed for the company conforms with the requirements of this chapter and that the proposed bylaws are proper; and
g. The company has filed proofs as to the mailing of notice and publication required by the chapter.