Md. Code, Corporations and Associations § 5-132
This is the official text of Md. Code, Corporations and Associations § 5-132, part of Maryland’s Code, Corporations and Associations — governs the formation and operation of corporations, LLCs, and partnerships.
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§5–132.
Official statutory 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.
(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.
Status: in_force · Read it on the official government site
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