§ 14-112. Revocation of certificate of authority and institution of delinquency proceedings

   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.

HISTORY: An. Code 1957, art. 48A, § 360; 1997, ch. 35, § 2; 1998, chs. 123, 124.