Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 10. PROFESSIONAL ASSOCIATIONS
14-10-9. Continuity of existence independent of status or acts of members.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Unless the articles of association expressly provide otherwise, a professional association shall continue as a separate entity independent of its members or shareholders, for all purposes for such period of time as provided in the articles, or until dissolved by a vote of two-thirds of the members. An association shall continue notwithstanding the death, insanity, incompetency, conviction for felony, resignation, withdrawal, transfer of membership or ownership of shares, retirement, or expulsion of any one or more of the members or shareholders; the admission of or transfer of membership or shares to any new member or members or shareholder or shareholders; or the happening of any other event, which under the law of this state and under like circumstances would work a dissolution of a partnership, it being the aim and intention of this Code section that such professional association shall have continuity of life independent of the life or status of its members or shareholders. No member or shareholder of a professional association shall have the power to dissolve the association by his independent act of any kind.
History
Ga. L. 1961, p. 404, § 9.
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Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Text read from t14-(v12)-2017-pdf.pdf, Volume V12, 2017 edition, pages 1101 to 1102; merge action: carried; file SHA-256 f2fad2b71b39.
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