Companies Law

Partner or Shareholder’s Practice of his Profession 1. A partner or shareholder in a professional company may only practice his profession through the company, unless it is owned by a single person. 2. Notwithstanding paragraph (1) of this Article, a partner or shareholder may practice his profession separately from the company if the other partners agree thereto in writing or upon obtaining the approval of the general assembly, as the case may be. 3. If a partner or shareholder violates the provisions of paragraphs (1) and (2) of this Article, the company shall be entitled to the fees and other financial benefits he receives.