1. (a) There is a Chesapeake Employers' Insurance Company.

2. (b) The Company shall be:

   1. (1) a private, nonprofit, nonstock corporation organized under State law; and
   2. (2) subject to the applicable provisions of the Corporations and Associations Article as a nonstock corporation.

3. (c) Before October 1, 2013, the Company shall:

   1. (1) file articles of incorporation under the Corporations and Associations Article; and
   2. (2) take all steps necessary to be a private, nonprofit, nonstock corporation organized under State law.

Added by Acts 2012, c. 570, § 1, eff. Oct. 1, 2012.