(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.