29-847. Disciplinary powers of regulating
boards; transfer of shares
A. No professional limited liability company may do any act which is prohibited to
be done by individuals licensed to perform professional services that are rendered by the
professional limited liability company.
B. Each member, manager, officer, agent and employee of a professional limited
liability company who is a licensed person in the jurisdiction in which the person
performs professional services shall be subject to the rules and regulations adopted by
and the disciplinary powers of the board or boards regulating the professional services
rendered by the professional limited liability company in the jurisdiction in which he
performs professional services.
C. If an interest in a professional limited liability company that is held by a
licensed person is not acquired by a person or persons qualified to own such interest
within one hundred eighty days following the death, insanity, bankruptcy, retirement,
withdrawal, expulsion or other legal disqualification of the member, the member shall be
entitled to receive distributions in accordance with section 29-707 in liquidation of the
member's entire interest in the professional limited liability company. Until such
transfer is effected such interest in the professional limited liability company shall
not be entitled to be voted.
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