"His legacy will forever live in our hearts," the group captioned its Instagram post honoring the musician.
As a 50-year member of the legendary group, Bonsall was a member of the Grand Ole Opry and the Country Music Hall of Fame, among many others.
Known as a fierce artist champion and musical connector, Martin became an influential A&R rep at labels including RCA, Warner Bros. and Mercury Records starting in the 1970s.
The Jacksonville native was celebrating his 26th birthday prior to being ambushed outside a hotel.
The musician died at home, according to the medical examiner's office.
The musician's health had been in decline for several years, according to his brother, David Siegfried.
"It is actually quite a complicated format and he made it look easy," Steven Van Zandt wrote in tribute.
The R&B vocalist passed away on June 13 at her daughter's home in Vallejo, Calif.
Holdsworth was also co-founder of the revered Musician magazine.
The Songwriters Hall of Fame member also penned "Suspicious Minds" and "Hooked on a Feeling."
