The Board on basis of the director general's presentation may cease the company to carry out certain type or types of the insurances of its practice for a period not exceeding a year and shall notify the company and the pertinent body given the cessation decision in any of the following cases:

1. Should the company is in violation of the provisions of the law herein and the regulations, rules and directives issued pursuant thereto.
    
2. Should the company became devoid of any of the terms needed for the registration according to the provisions of the law herein.
    
3. Should the company did not carry out its operations in any of the insurance types listed with those ones requiring registration or ceased operating in such a type to carry out for period of one year.
    
4. Should the company failed to fulfill its accrued financial obligations.
    
5. Should the company refrained to execute a final judicial verdict related to an insurance contract.