No company shall transact in this state any insurance business unless it shall first procure from the director a certificate stating the requirements of the insurance laws of this state have been complied with authorizing it to do business, which certificate shall be renewed annually as of July first but which shall remain in full force and effect until renewed or refused by the director. Certificates in effect October 13, 1967, shall be extended to terminate on July 1, 1968, unless otherwise terminated, suspended or revoked.