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§ 5-132. Licensing unit, revocation of articles of incorporation

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 5. Special Types of Corporations (Refs & Annos)
Subtitle 1. Professional Service Corporations
MD Code, Corporations and Associations, § 5-132
§ 5-132. Licensing unit, revocation of articles of incorporation
Currentness
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.

Credits

Added by Acts 1993, c. 413, § 2.
MD Code, Corporations and Associations, § 5-132, MD CORP & ASSNS § 5-132
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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