Legal Question in Business Law in Virginia
Continuation/sale of professional practice
My wife has an optometry practice in Virginia. Virginia law requires that optometrists own the optometric practice. If something happens to her, I need to be able to operate it until she recovers or we sell it. How do we set things up legally to facilitate this?
Asked on 12/01/07, 2:14 pm
1 Answer from Attorneys
Ruth Emily Kochard
Ruth Emily Kochard, Counselor at Law
Re: Continuation/sale of professional practice
By operation of law, in the event that your wife died, the professional corporation would become a nonprofessional corporation such that it could be concluded.
Answered on 12/01/07, 10:16 pm
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