Section 1509. Disqualification of shareholders, directors, officers and employees  


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  • If any shareholder, director, officer or employee  of  a  professional
      service  corporation  who has been rendering professional service to the
      public becomes legally disqualified to practice  his  profession  within
      this  state, he shall sever all employment with, and financial interests
      (other than interests as a creditor) in, such corporation  forthwith  or
      as  otherwise provided in section 1510. 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 shareholder, director,
      officer and employee of such corporation in the same manner and  to  the
      same extent as if fully set forth herein. Such legal disqualification to
      practice  his profession within this state shall be deemed to constitute
      an irrevocable offer by the disqualified shareholder to sell his  shares
      to the corporation, pursuant to the provisions of section 1510 or of the
      certificate of incorporation, by-laws or agreement among the corporation
      and all shareholders, whichever is applicable. Compliance with the terms
      of  such  offer  shall be specifically enforceable in the courts of this
      state.  A  professional  service  corporation's   failure   to   enforce
      compliance  with this provision shall constitute a ground for forfeiture
      of its certificate of incorporation and its dissolution.