Code of Virginia § 13.1-551. Disqualification of shareholder.
101 words·~1 min read·
/va/title-13-1/chapter-7/13-1-551·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If any officer, shareholder, agent or employee of a corporation organized under this chapter who has been rendering professional service to the public becomes legally disqualified to render such professional services within this Commonwealth, he shall immediately sever all employment with, and financial interests in such corporation except that he may be a shareholder subject to the provisions of this chapter. A corporation's failure to require compliance with this provision shall constitute a ground for the forfeiture of its articles of incorporation and the termination of its corporate existence by the State Corporation Commission.
1970, c. 77; 2002, c. 77 .