Sec. 303.005. EXISTENCE OF PROFESSIONAL CORPORATION BEFORE WINDING UP AND TERMINATION. A professional corporation continues to exist until the winding up and termination of the corporation as provided by Chapter 11 without regard to:
(1) the death, incompetency, bankruptcy, resignation, withdrawal, retirement, or expulsion of any shareholder of the corporation;
(2) the transfer of shares to a new shareholder; or
(3) the occurrence of an event requiring the winding up of a partnership.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Title 7 - Professional Entities
Chapter 303 - Provisions Relating to Professional Corporations
Section 303.001. Applicability of Certain Provisions Governing For-Profit Corporations
Section 303.002. Authority and Liability of Shareholder
Section 303.003. Notice of Restriction on Transfer of Shares
Section 303.004. Redemption of Shares; Price and Terms
Section 303.005. Existence of Professional Corporation Before Winding Up and Termination