If any individual rendering professional services on behalf of a professional corporation assumes a public office that prohibits his or her rendering of the professional services, or for any other reason is disqualified by law to render the professional services, the individual immediately shall sever all employment relationships in which the individual shares in the corporation’s profits attributable to professional services rendered after such assumption of office or other disqualification. For the purposes of § 29-514, the individual shall be referred to as a “disqualified shareholder”.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
2001 Ed., § 29-415.
1981 Ed., § 29-615.
1973 Ed., § 29-1115.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 5 - Professional Corporations
§ 29–505. Purpose for organization; powers authorized
§ 29–508. Qualifications of shareholders, director, and officer
§ 29–510. Professional relationship; liabilities
§ 29–512. Merger or consolidation restricted
§ 29–513. Disqualified professional
§ 29–514. Disposition of stock of disqualified, deceased, or legally incompetent shareholder