2013 Maryland Code
§ 14-112 - Revocation of certificate of authority and institution of delinquency proceedings

MD Ins Code § 14-112 (2013) What's This?


The Commissioner may revoke a certificate of authority issued to a corporation subject to this subtitle, and at any time after revocation may institute proceedings under Title 9, Subtitle 2 of this article to rehabilitate or liquidate the corporation, if:

(1) grounds exist under § 4-113 of this article; or

(2) the Commissioner has reason to believe that the corporation:

(i) is being operated for profit;

(ii) is being fraudulently conducted;

(iii) is not complying with this subtitle or article;

(iv) knowingly is failing to comply with a rule, regulation, or order of the Commissioner; or

(v) has violated the provisions of Title 6.5 of the State Government Article.

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