48-101-624 - Dissolution of professional corporations.
48-101-624. Dissolution of professional corporations.
The attorney general and reporter may commence a proceeding under chapter 24, part 3 of this title to dissolve a professional corporation if:
(1) The secretary of state or a licensing authority with jurisdiction over a professional service described in the corporation's charter serves written notice on the corporation under § 48-15-104, that it has violated or is violating a provision of this part;
(2) The corporation does not correct each alleged violation, or demonstrate to the reasonable satisfaction of the secretary of state or licensing authority that it did not occur, within sixty (60) days after service of the notice is perfected under § 48-15-104; and
(3) The secretary of state or licensing authority certifies to the attorney general and reporter a description of the violation, that it notified the corporation of the violation, and that the corporation did not correct it, or demonstrate that it did not occur, within sixty (60) days after perfection of service of the notice.
[Acts 1992, ch. 698, § 1; T.C.A., § 48-3-624.]