(a) The bylaws shall state the time and manner of the levy and payment of all premiums or assessments for all insurance written by the company.

(b) The bylaws shall also fix the liability of the policyholders for all losses accrued while the policies are in force, in addition to the regular premium or assessment of the policyholders, and the time and manner of payment of such liability.

(c) The bylaws may be amended and any such amendment shall be filed with the Commissioner within 30 days after its adoption.

(d) The bylaws may contain provisions for the exclusion of any member of the company who refuses or neglects to pay his assessment or for any other reasons satisfactory to the directors to be excluded from the insurer.