(a) The commissioner shall not issue a certificate of authority to any motor club until:
(i) It files with him the following:
(A) A formal application for the certificate in such form and detail as the commissioner requires, executed under oath by its president or other principal officer;
(B) A certified copy of its charter or articles of incorporation and its bylaws.
(ii) It pays to the commissioner an annual license fee of one hundred dollars ($100.00);
(iii) It deposits the required cash, securities, bond or evidence of deposit in another state as provided by W.S. 31-14-103 with the commissioner;
(iv) Its name is approved by the commissioner under W.S. 31-14-107.