The Board of Nursing may suspend or revoke the right of any corporation, or any of its members, to practice nursing, for any of the following reasons: (1) The revocation or suspension of the license to practice nursing of any officer, director, shareholder, or employee not promptly removed or discharged by the corporation; (2) Unethical professional conduct on the part of any officer, director, shareholder, or employee not promptly removed or discharged by the corporation; (3) The death of the last remaining shareholder; or (4) A violation of any of the provisions of this chapter or the rules promulgated pursuant to this chapter. Source: SL 1996, ch 228 , § 17.