To qualify for a license to engage in the business of a motor club, a motor club with capital stock must have and maintain: paid-in capital stock with a fixed nominal or par value in an amount not less than $5,000; and surplus in an amount not less than $10,000. A motor club formed under the laws of the State without paid-in capital stock shall have and maintain unencumbered assets, in addition to required reserves and other liabilities, in an amount equal to that required under subsection (a) of this section.