US Laws, Codes, Statutes & Cases

No proxy for the purpose of voting as a member or manager in a professional limited liability company shall be valid unless it is given to a qualified person. A voting trust with respect to voting in a professional limited liability company shall not be valid unless all the trustees and beneficiaries of the voting trust are qualified persons, except that a voting trust may be validly continued for a period of 10 months after the death of a deceased beneficiary or for a period of 5 months after a beneficiary has become a disqualified person.

Source. 1993, 313:1, eff. July 1, 1993.