                                 CODE OF VIRGINIA

DISQUALIFICATION OF SHAREHOLDER (§ 13.1-551)

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&#8217;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.

HISTORY: 1970, c. 77; 2002, c. 77.