Title 14, Chapter 10, Section 9
( 14-10-9)
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. |