Title 15, CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

(a) General rule.--The articles of association shall contain the name of the association, the names and addresses of all of the associates, the address of the principal office of the association and a general purpose clause of the association. One copy of the articles of associat…

The associates shall elect a board of governors which shall manage all of the affairs of the association. The membership of the board of governors shall consist of one or more persons who may but need not be associates. The board shall elect a chairman, a secretary, a treasurer a…

The associates shall adopt bylaws to regulate the affairs of the association. The bylaws shall provide for: (1) The method of election of the members of the board of governors. (2) The number of members of the board of governors. (3) The method of election of officers of the boar…

The board of governors may engage such employees as it deems necessary for the operation of the association. An employee shall not be engaged to render professional services unless he is duly licensed or otherwise legally authorized to render the professional services in this Com…

The board of governors shall have the right to establish the amount and method of compensation of all of the employees.

The board of governors may establish what portion of excess earnings of the association shall be distributed among the associates. Any distribution of excess earnings of the association shall be made to each associate according to his proportionate ownership in the association.…

The portion of ownership of each associate in an association shall be evidenced by an ownership certificate.

Any associate or the personal representative of his estate may transfer, in whole or in part, his interest in an association only to a transferee who is licensed or otherwise legally authorized to render the same kind of professional service which the association was organized to…

An association may, upon agreement with any associate (including any associate who has been expelled) or the personal representative of his estate, redeem the interest in the association of the associate or his estate.

An association may be organized for any term of years or its existence may be perpetual. Neither death, bankruptcy, resignation, expulsion, insanity, retirement nor transfer or redemption of the interest of any associate shall cause its dissolution.

The associates may adopt any name for their association which is not contrary to law or the ethics of their profession.

At any meeting of the associates of an association, each associate shall have the right to vote according to his proportionate ownership in the association.

(a) Joint and several liability.--All of the associates of an association are liable, jointly and severally, for: (1) The torts of any agent or employee of the association committed while the agent or employee is acting within the ordinary course of operation of the association. …

If any agent or employee of the association engaged for the purpose of rendering professional services or any associate becomes legally disqualified to render professional services, the agency or employment shall be immediately terminated upon disqualification and, in the case of…

(a) General rule.--An association shall be dissolved only upon the occurrence of one of the following: (1) Expiration of the term of existence as provided in the bylaws of the association but not until articles of dissolution have been filed as provided in subsection (c). (2) Upo…