Clause 12 - Membership
A. If the Club accepts an application from an Applicant Assured who is not already a Member for a ship to be entered on terms that premium is payable to the Club, then such Applicant Assured shall, as from the date of the acceptance of such entry, be and become a Member and shall be bound by these Terms & Conditions and its name shall be entered in the register of Members.
B. An Assured shall cease to be a Member if for any reason whatsoever the period of insurance shall have terminated in respect of all ships entered in the Club in its name. Whenever the period of any reinsurance shall have terminated the insurer reinsured by the Club and the Assured insured by such insurer, if previously a Member, shall cease to be one.