Section 5-132 - Suspension or Revocation of Articles of Incorporation

A licensing unit may direct the Department to suspend or revoke the articles of incorporation of a professional corporation if: (1) All stockholders of the professional corporation have at any one time become disqualified persons; (2) The professional corporation knowingly employs or retains in its employment a licensed person who, for any reason, becomes legally disqualified to render the professional service that the professional corporation was organized to render; (3) The professional corporation violates any applicable rule or regulation adopted by the licensing unit regulating a profession named in the professional corporation’s articles of incorporation; or (4) The professional corporation violates any statute applicable to a professional corporation.