1. (a) Each policyholder is subject to assessment as provided in §§ 3-110, 3-111, and 3-112 of this article.

2. (b) Notwithstanding subsection (a) of this section, if the Society meets all applicable requirements of this article about the sale of nonassessable policies, including the requirements of §§ 4-104, 4-105, and 4-106 of this article, the Society may issue nonassessable policies subject to:

   1. (1) § 3-113 of this article;
   2. (2) all other applicable provisions of this article; and
   3. (3) the Corporations and Associations Article.

Added by Acts 1997, c. 57, § 4, eff. Dec. 31, 2000. Amended by Acts 2005, c. 25, § 1, eff. April 12, 2005.

Formerly Art. 48A, § 553.