3929

If any officer, employee, agent or shareholder of a corporation, organized under this chapter, becomes legally disqualified to render such professional services within this jurisdiction, or either (i) is elected to a public office that, or (ii) accepts employment that, pursuant to existing law, places restrictions or limitations upon such officer, employee, agent or shareholder’s continued rendering of such professional services, such person shall sever all employment with, and financial interests in, the corporation, forthwith. Provided, That failure to comply with the provisions of this section shall constitute a ground for the forfeiture of its charter and its dissolution. When a corporation’s failure to comply with this section is brought to the attention of the Secretary of State, the Secretary of State shall forthwith certify that fact to the Secretary of Justice to initiate the appropriate action to dissolve the corporation before the Court of First Instance.\nHistory —Dec. 16, 2009, No. 164, § 18.09.