§ 14-10-9. Continuity of Existence Independent of Status or Acts of Members
Unless the articles of association expressly provide otherwise, a professional association shall continue as a separate entity independent of its members or shareholders, for all purposes for such period of time as provided in the articles, or until dissolved by a vote of two-thirds of the members. An association shall continue notwithstanding the death, insanity, […]
§ 14-10-10. Ownership
Stock-type and nonstock associations. A professional association organized pursuant to this chapter may issue stock or certificates evidencing ownership of an interest in the assets of the professional association to its members; the association may be a nonstock organization with the members owning no individual interest in the assets of the association but with […]
§ 14-10-11. Severance of Connection With Association Required Upon Legal Disqualification of Member to Render Professional Service; Effect of Failure to Comply
If any member, shareholder, agent, or employee of a professional association becomes legally disqualified to render a professional service within this state or accepts employment or is elected to a public office which, pursuant to existing law, is a restriction or limitation upon the rendering of professional service, he shall sever all employment with, or […]
§ 14-10-12. Valuation of Membership or Shares of Deceased, Retired, Expelled, or Disqualified Member or Shareholder
If the articles of association or bylaws of a professional association fail to fix a price at which a professional association or its members or shareholders may purchase the membership or shares of a deceased, retired, expelled, or disqualified member or shareholder, and if the articles of association or bylaws do not otherwise provide, then […]
§ 14-10-14. Limitation on Sale or Transfer of Membership or Shares
A member or shareholder of a professional association may sell or transfer his membership or shares in such professional association only to another individual who is duly licensed or otherwise legally authorized to render the same professional services as those for which the association was organized. History. Ga. L. 1961, p. 404, § 14.
§ 14-10-15. Distribution of Assets Following Dissolution
In the event of dissolution of a stock-type professional association, the board of governors, as trustees of the property of such professional association, shall apply the assets first to the payment of debts of the association and, secondly, to the holders of the stock as provided in the articles of association. In the event of […]
§ 14-10-16. Powers Generally; Assets Not Liable to Attachment for Debts of Members or Shareholders
A professional association organized pursuant to this chapter may contract in its own name, take, hold, and sell real and personal property in its own name, independent of its members, and sue and be sued as an independent entity as provided by law. Any conveyance in the name of the professional association to a third […]
§ 14-10-17. Actions by or Against Associations
Code Sections 9-2-24 and 9-2-25 are incorporated by reference and shall govern professional associations organized pursuant to this chapter in all respects as contained therein. History. Ga. L. 1961, p. 404, § 17.
§ 14-10-18. Applicability of Corporation Laws; Inapplicability of Partnership Laws
A professional association organized pursuant to this chapter shall be governed generally by all laws governing or applying to corporations, where applicable, and not in conflict with this chapter; and no such association shall be held or deemed to be a partnership nor shall such association be governed by laws relating to partnerships. History. Ga. […]
§ 14-10-7. Relationship Between Person Rendering and Person Receiving Professional Service; Liability of Members for Debts of or Claims Against Association
This chapter does not modify any law applicable to the relationship between a person furnishing and a person receiving professional service, including liability arising out of such professional service and including the confidential relationship between the person rendering and the person receiving such professional service, if any. All confidential relationships enjoyed under the laws of […]