21-2212 Death or disqualification of shareholder; purchase or redemption of shares; death or disqualification of last remaining shareholder; powers of successor in interest. - Nebraska Statutes

21-2212. Death or disqualification of shareholder;purchase or redemption of shares;death or disqualification of last remaining shareholder; powers of successorin interest.(1) Thearticles of incorporation or the bylaws of the professional corporation shallprovide for the purchase or redemption of the shares of any shareholder uponhis or her deathor disqualification to render the professional services of the professionalcorporation within this state.(2) Unless otherwiseprovided in the articles of incorporation or the bylaws of the professionalcorporation, upon the death or disqualification of the last remaining shareholderof a professional corporation, a successor in interest to such deceased ordisqualified shareholder may dissolve the corporation and wind up and liquidateits business and affairs, notwithstanding the fact that such successor ininterest could not have become a shareholder of the professional corporation.The successor in interest may file articles of dissolution with the Secretaryof State in accordance with section 21-20,153. Thereafter, the successor ininterest may wind up and liquidate the corporation's business and affairsin accordance with section 21-20,155 and notify claimants in accordance withsections 21-20,156 and 21-20,157. SourceLaws 1969, c. 121, § 12, p. 558; Laws 2010, LB759, § 1.Effective Date: July 15, 2010