Merger or consolidation restricted. (a) A professional corporation may merge or consolidate only with another domestic professional corporation or a domestic limited liability company and only if both entities are organized to render the same professional services, which, although not the same, could otherwise be rendered by a single professional corporation or limited liability company. (b) A member of a domestic limited liability company that is a party to a merger or consolidation shall not, as a result of the merger or consolidation, be personally liable for the liabilities or obligations of any other person or entity unless that member approves the agreement of merger or consolidation or otherwise consents to becoming personally liable. (July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.) Prior Codifications 2001 Ed., § 29-413. 1981 Ed., § 29-613. 1973 Ed., § 29-1113. Section References This section is referenced in § 29-202.01.
District of Columbia Legal Code