A. If on the completion of an application the director finds that the insurer has met the requirements for and is entitled under this title, the director shall issue to the insurer a proper certificate of authority. If the director does not so find, the director shall issue an order refusing such certificate. The director shall act on an application for a certificate of authority within ninety days after its completion.

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B. The certificate, 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 a certificate of authority limited to particular types of insurance included within a kind of insurance as defined in this title.