§ 24-303. Chesapeake Employers' Insurance Company

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   (a) Established. -- There is a Chesapeake Employers' Insurance Company.

(b) Characteristics. -- 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) Articles of incorporation. -- 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.

HISTORY: 2012, ch. 570, § 1.

                    
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