§ 5-132

Maryland § 5-132

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 5

Text

A licensing unit may direct the Department to suspend or revoke the articles of incorporation of a professional corporation if:

(1) All stockholders of the professional corporation have at any one time become disqualified persons;

(2) The professional corporation knowingly employs or retains in its employment a licensed person who, for any reason, becomes legally disqualified to render the professional service that the professional corporation was organized to render;

(3) The professional corporation violates any applicable rule or regulation adopted by the licensing unit regulating a profession named in the professional corporation’s articles of incorporation; or

(4) The professional corporation violates any statute applicable to a professional corporation.