Code of Virginia § 13.1-1116. Disqualification of member, manager, agent or employee.
119 words·~1 min read·
/va/title-13-1/chapter-13/13-1-1116A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If any member, manager, agent or employee of a professional limited liability company organized under this chapter who has been rendering professional service to the public becomes legally disqualified to render those professional services within this Commonwealth, that member, manager, agent or employee shall immediately sever all employment with, and financial interests in, that professional limited liability company except that the member, manager, agent or employee may be a member subject to the provisions of this chapter.
A professional limited liability company's failure to require compliance with this provision shall constitute a ground for the forfeiture of its articles of organization and the cancellation of its existence by the State Corporation Commission.
1992, c. 574; 2009, c. 201 .