A company that is authorized to do business in a state is

While a "domestic" company is one that operates within its home state, this term does not specifically address the authorization aspect. A domestic company may not necessarily be "admitted" in other states, as it only pertains to its operations within its state of incorporation. Thus, it fails to capture the context of authorization in various states.

A "foreign" company refers to a business that is incorporated in one state but operates in another. This term denotes that the company is not based in the state where it is conducting business. Therefore, it implies a lack of authorization in the context of the state in question unless it has been admitted to operate there.

"Mutual" typically describes a type of insurance company owned by its policyholders, not a company's operational status or authorization. This choice is irrelevant to the question about a company's legal ability to do business in a state, as it does not pertain to state regulations or admission processes.