§24–303.

    (a)    There is a Chesapeake Employers’ Insurance Company.

    (b)    The Company shall be:

        (1)    a private, nonprofit, nonstock corporation organized under State law; and

        (2)    subject to the applicable provisions of the Corporations and Associations Article as a nonstock corporation.

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

        (1)    file articles of incorporation under the Corporations and Associations Article; and

        (2)    take all steps necessary to be a private, nonprofit, nonstock corporation organized under State law.