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Alaska Statutes 10.50.415 - Acts of winding up

Alaska Statutes > Title 10 > Chapter 10.50 > § 10.50.415 - Acts of winding up


Current as of: 2010

If a shareholder, director, officer, employee, or agent of a professional corporation is legally disqualified to render professional service in this state, or is elected or appointed to a public office which under law restricts or limits the rendering of professional services, that person shall sever all employment and financial interest in the professional corporation immediately. The failure of the directors or officers to require compliance with this section is sufficient ground for the forfeiture of the corporate franchise.

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See also:

Alaska Statutes Chapter 10.50 - Alaska Revised Limited Liability Company Act

Related Articles: Limited Liability Companies

 Limited Liability Company
 LLC Operating Agreements
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