Section 5-124 - Proceeding to dissolve professional corporation.
§ 5-124. Proceeding to dissolve professional corporation.
The Attorney General may commence a proceeding under § 3-513 of this article to dissolve a professional corporation if:
(1) The Department or a licensing unit with jurisdiction over a professional service described in the corporation's articles of incorporation serves written notice on the corporation that it has violated or is violating a provision of this subtitle;
(2) The corporation does not, within 60 days after service of the notice, correct the alleged violation or demonstrate to the Department or licensing authority that the violation has not occurred; and
(3) The Department or licensing unit certifies to the Attorney General:
(i) A description of the violation;
(ii) That it notified the corporation of the violation; and
(iii) That within 60 days after service of notice, the corporation did not correct the violation or demonstrate that it did not occur.
[1993, ch. 413, § 2; 1994, ch. 3, § 1.]