(a) The Secretary of the Department may revoke or suspend a license to operate a hospital in accordance with § 19-327 of the Health – General Article if an acquisition occurs without the approval of the Attorney General.

(b) An acquisition of a nonprofit health service plan or a nonprofit health maintenance organization may not occur without the approval of the Administration.

(c) A nonprofit health service plan or a nonprofit health maintenance organization may not be operated for profit.

(d) If the Commissioner determines that a nonprofit health service plan or a nonprofit health maintenance organization is in violation of subsection (b) or (c) of this section, the Commissioner may, in addition to any other remedies authorized by law, require the following:

(1) the divestiture of the acquisition;

(2) that the entity fully comply with this title;

(3) that the entity file a plan for conversion to a for-profit entity as required under this title;

(4) that the certificate of authority of the entity to operate as a nonprofit health service plan or a nonprofit health maintenance organization in this State be revoked or suspended; or

(5) the payment of a penalty as provided for in § 4-113(d)(1) of the Insurance Article for each violation of subsection (b) or (c) of this section.