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Current as of January 01, 2025 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-132 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-132/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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