(1) Any attorney-at-law shall, on or after the effective date of the plan of operation, be entitled to apply to the association for legal professional liability insurance coverage. Such application may be made on behalf of an applicant by an agent authorized by the applicant.
(2) If the association determines that the applicant meets the underwriting standards of the association as prescribed in the plan of operation and there is no unpaid, uncontested premium due from the applicant for prior insurance, then the association, upon receipt of the premium or such portion thereof as is prescribed in the plan of operation, shall cause to be issued a policy of legal professional liability insurance.