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

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

   1. (i) is being operated for profit;
   2. (ii) is being fraudulently conducted;
   3. (iii) is not complying with this subtitle or article;
   4. (iv) knowingly is failing to comply with a rule, regulation, or order of the Commissioner; or
   5. (v) has violated the provisions of Title 6.5 of the State Government Article.

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:

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997; Acts 1998, c. 123, § 1, eff. Oct. 1, 1998; Acts 1998, c. 124, § 1, eff. Oct. 1, 1998.

Formerly Art. 48A, § 360.