Holding orders

I am trying to get an understanding of the order hold and releasing of orders.  Is the order pick tied into order hold/release?  Can you have different rules for different sales divisions?  Example Division "X" customer order goes on hold if they are over the credit limit and/or are past due more than 15 days.  Division "Z" customer order goes on hold if the account is either 1 day past due or $1 over credit limit.