Perpetual duration; dissolution. (a) A professional corporation shall have perpetual duration, except that whenever all shareholders of a professional corporation cease at any time for any reason to be licensed to perform the professional services for which the corporation was organized, the professional corporation shall be treated as having converted into a corporation organized under Chapter 3 of this title. (b) Articles of conversion shall be delivered to the Mayor for filing and meet the requirements of § 29-204.05. (c) Dissolution by a professional corporation shall meet the requirements of § 29-312.03. (July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(e)(2), 59 DCR 13171.) Prior Codifications 2001 Ed., § 29-418. 1981 Ed., § 29-618. 1973 Ed., § 29-1118. Effect of Amendments The 2013 amendment by D.C. Law 19-210 rewrote the section. Editor's Notes Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.
District of Columbia Legal Code