(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.
Maryland Legal Code