PARRIS N. GLENDENING, Governor

Ch. 35

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; OR

(IV) KNOWINGLY IS FAILING TO COMPLY WITH A RULE,
REGULATION, OR ORDER OF THE COMMISSIONER.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 360.

In item (2)(iv) of this section, the former word "lawful", which modified "rule,
regulation, or order", is deleted as surplusage.

Defined terms: "Certificate of authority" § 1-101
"Commissioner" § 1-101

14-113. RESERVED.

14-114. RESERVED.

PART III. MANAGEMENT, FINANCES, AND SOLVENCY.
14-115. MANAGEMENT OF BUSINESS BY BOARD OF DIRECTORS.

(A) DEFINITIONS.

(1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(2) "BOARD" MEANS THE BOARD OF DIRECTORS OF A NONPROFIT
HEALTH SERVICE PLAN.

(3) "IMMEDIATE FAMILY MEMBER" MEANS A SPOUSE, CHILD, CHILD'S
SPOUSE, PARENT, SPOUSE'S PARENT, SIBLING, OR SIBLING'S SPOUSE.

(B) SCOPE OF SECTION.

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