2013 New York Consolidated Laws
LLC - Limited Liability Company Law
Article 12 - (1201 - 1216) PROFESSIONAL SERVICE LIMITED LIABILITY COMPANIES
1209 - Disqualification of members, managers and employees.


NY LLC L § 1209 (2012) What's This?
 
    §  1209.  Disqualification of members, managers and employees.  If any
  member, manager or employee of a professional service limited  liability
  company  who  has  been  rendering  professional  service  to the public
  becomes legally disqualified to practice  his,  her  or  its  profession
  within  this  state,  he,  she or it shall sever all employment with and
  financial interests (other than interests as a creditor or vested rights
  under a bona fide retirement program) in such limited liability  company
  forthwith or as otherwise provided in section twelve hundred ten of this
  article.  All provisions of law regulating the rendering of professional
  services by a person elected or appointed to a public  office  shall  be
  applicable  to  a  member, manager or employee of such limited liability
  company in the same manner and to the same extent as if fully set  forth
  herein.  Such  legal disqualification to practice such profession within
  this state shall be deemed to constitute an  irrevocable  offer  by  the
  disqualified  member  to sell his, her or its membership interest to the
  professional  service  limited  liability  company,  pursuant   to   the
  provisions  of  section  twelve  hundred  ten  of this article or of the
  articles  of  organization  or   operating   agreement,   whichever   is
  applicable.   Compliance   with   the  terms  of  such  offer  shall  be
  specifically enforceable in the courts of this state.    A  professional
  service  limited  liability company's failure to enforce compliance with
  this provision shall constitute a ground for its dissolution.

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