(a) The commissioner shall require the name or any changed name of every insurer (including reciprocal or interinsurance exchanges), every attorney in fact, every motor club, and every underwritten title company to be submitted to him or her by written application and approved by him or her before the name is used in this state for business purposes. If approved, the commissioner shall issue his or her official certificate approving the name, and when appropriate, reserving the name for the following time periods, which shall commence on the date of the approval:

1. (1) One year if the applicant is newly formed, or if the application is filed on behalf of an entity to be formed, under the laws of this state.
2. (2) One hundred eighty days and during the pendency in good faith of an application for certificate of authority in the case of a foreign or alien applicant.
3. (3) Ninety days in the case of an admitted entity requesting authority to change the name under which it will conduct its business with the public in this state.