Delaware § 611 Disqualification of officer, shareholder, agent or employee

Delaware Statutes

§ 611 — Disqualification of officer, shareholder, agent or employee

Delaware·Title 8·Ch. 6 PROFESSIONAL SERVICE CORPORATIONS

(a)Any officer, employee, agent or shareholder of a professional corporation shall forthwith sever all employment with, and financial interests in, the professional corporation in the event that such person:

(1)Becomes legally disqualified to render such professional service within this State;

(2)Is elected to a public office that, pursuant to existing law, places restrictions or limitations upon such person’s continued rendering of such professional service; or

(3)Accepts employment that, pursuant to existing law, places restrictions or limitations upon such person’s continued rendering of such professional service.

(b)A professional corporation’s failure to require compliance with subsection (a) of this section shall constitute a ground for the forfeiture of its charter and its

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Any officer, employee, agent or shareholder of a professional corporation shall forthwith sever all employment with, and financial interests in, the professional corporation in the event that such person:

(1) Becomes legally disqualified to render such professional service within this State;

(2) Is elected to a public office that, pursuant to existing law, places restrictions or limitations upon such person’s continued rendering of such professional service; or

(3) Accepts employment that, pursuant to existing law, places restrictions or limitations upon such person’s continued rendering of such professional service.

(b) A professional corporation’s failure to require compliance with subsection (a) of this section shall constitute a ground for the forfeiture of its charter and its dissolution. When a professional corporation’s failure to comply with subsection (a) of this section is brought to the attention of the office of the Secretary of State, the Secretary of State shall forthwith certify that fact to the Attorney General for appropriate action to dissolve the professional corporation.

Delaware § 611 (Disqualification of officer, shareholder, agent or employee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.