29-847. Disciplinary powers of regulating boards; transfer of shares
(Rpld. 9/1/20)
A. No professional limited liability company may do any act which is prohibited to be done by individuals licensed to perform professional services that are rendered by the professional limited liability company.
B. Each member, manager, officer, agent and employee of a professional limited liability company who is a licensed person in the jurisdiction in which the person performs professional services shall be subject to the rules and regulations adopted by and the disciplinary powers of the board or boards regulating the professional services rendered by the professional limited liability company in the jurisdiction in which he performs professional services.
C. If an interest in a professional limited liability company that is held by a licensed person is not acquired by a person or persons qualified to own such interest within one hundred eighty days following the death, insanity, bankruptcy, retirement, withdrawal, expulsion or other legal disqualification of the member, the member shall be entitled to receive distributions in accordance with section 29-707 in liquidation of the member's entire interest in the professional limited liability company. Until such transfer is effected such interest in the professional limited liability company shall not be entitled to be voted.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.