If all of the outstanding shares of a professional corporation are held by an administrator,
executor, guardian, conservator, or receiver of the estate of a former shareholder,
or by a transferee who received such shares by operation of law or court decree, such
administrator, executor, guardian, conservator, receiver, or transferee for a period
of twelve months following receipt or transfer of such shares may be a director, officer,
or shareholder of the professional corporation.
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