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Martin O'Malley, Governor
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Ch.3
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PROPERTY, BOOKS, RECORDS, ACCOUNTS, OR AFFAIRS OF THE PROVIDER, OR OF A
SUBSIDIARY OR RELATED COMPANY OF THE PROVIDER WITHIN THE PROVIDER'S
CONTROL;
(3) HAS CONCEALED OR REMOVED ITS ASSETS OR RECORDS;
(4) HAS WILLFULLY VIOLATED ITS CHARTER, ARTICLES OF
INCORPORATION, A STATE LAW, OR AN ORDER OF THE SECRETARY;
(5) AFTER REASONABLE NOTICE, HAS FAILED PROMPTLY AND
EFFECTIVELY TO TERMINATE THE EMPLOYMENT, STATUS, AND INFLUENCE OVER
THE MANAGEMENT OF THE PROVIDER OF A PERSON THAT HAS EXECUTIVE
AUTHORITY IN FACT OVER THE PROVIDER AND HAS REFUSED TO BE EXAMINED
UNDER OATH ABOUT THE AFFAIRS OF THE PROVIDER IN THE STATE OR ELSEWHERE;
(6) HAS BEEN OR IS THE SUBJECT OF AN APPLICATION FOR
APPOINTMENT OF A RECEIVER, TRUSTEE, CUSTODIAN, SEQUESTRATOR, OR SIMILAR
FIDUCIARY OF THE PROVIDER OR ITS PROPERTY IN AN ACTION THAT WAS NOT FILED
UNDER THIS SUBTITLE, REGARDLESS OF WHETHER THE APPOINTMENT:
(I) HAS BEEN MADE;
(II) MAY DENY THE COURTS OF THE STATE JURISDICTION; OR
(III) MAY PREJUDICE AN ORDERLY DELINQUENCY PROCEEDING
UNDER THIS SUBTITLE;
(7) HAS CONSENTED TO THE ORDER FOR CONSERVATION OR
REHABILITATION THROUGH A MAJORITY OF ITS DIRECTORS, STOCKHOLDERS,
MEMBERS, OR SUBSCRIBERS;
(8) HAS FAILED TO PAY A FINAL JUDGMENT RENDERED AGAINST IT IN THE STATE ON A CONTINUING CARE AGREEMENT ISSUED OR ASSUMED BY THE
PROVIDER, WITHIN 60 DAYS AFTER THE LATEST OF:
(I) THE DAY ON WHICH THE JUDGMENT BECAME FINAL;
(II) THE DAY ON WHICH THE TIME FOR TAKING AN APPEAL
EXPIRED; OR
(III) THE DAY ON WHICH AN APPEAL WAS DISMISSED BEFORE FINAL
TERMINATION;
(9) AFTER EXAMINATION BY THE SECRETARY, IS FOUND TO BE IN A
CONDITION IN WHICH FURTHER TRANSACTION OF ITS BUSINESS WILL BE
HAZARDOUS TO ITS SUBSCRIBERS, BONDHOLDERS, CREDITORS, OR THE PUBLIC;
(10) HAS FAILED TO REMOVE A PERSON THAT HAS EXECUTIVE
AUTHORITY IN FACT OVER THE PROVIDER AFTER THE SECRETARY HAS FOUND THAT
PERSON TO BE DISHONEST OR UNTRUSTWORTHY IN A MANNER THAT MAY AFFECT
THE BUSINESS OF THE PROVIDER;
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- 509 -
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