§ 29–516. Perpetual duration; dissolution.

(a) A professional corporation shall have perpetual duration, except that whenever all shareholders of a professional corporation cease at any time for any reason to be licensed to perform the professional services for which the corporation was organized, the professional corporation shall be treated as having converted into a corporation organized under Chapter 3 of this title.

(b) Articles of conversion shall be delivered to the Mayor for filing and meet the requirements of § 29-204.05.