17-2707.Same; definitions.
As used in this act, unless the context clearly indicates that a different
meaning is intended:
(a) "Professional corporation" means a corporation organized under this act.
(b) "Professional service" means the type of personal service rendered by
a person duly licensed, registered or certified by this state as a member of
any of the following professions, each paragraph constituting one type:
(1) A certified public accountant;
(2) an architect;
(3) an attorney-at-law;
(4) a chiropractor;
(5) a dentist;
(6) an engineer;
(7) an optometrist;
(8) an osteopathic physician or surgeon;
(9) a physician, surgeon or doctor of medicine;
(10) a veterinarian;
(11) a podiatrist;
(12) a pharmacist;
(13) a land surveyor;
(14) a licensed psychologist;
(15) a specialist in clinical social work;
(16) a licensed physical therapist;
(17) a landscape architect;
(18) a registered professional nurse;
(19) a real estate broker or salesperson;
(20) a clinical professional counselor;
(21) a geologist;
(22) a clinical psychotherapist;
(23) a clinical marriage and family therapist;
(24) a licensed physician assistant;
(25) a licensed occupational therapist;
(26) a licensed audiologist; and
(27) a licensed speech-pathologist.
(c) "Regulating board" means the court, board or state agency which is
charged with the licensing, registering or certifying and regulation of
the practice of the profession which the professional corporation is organized
to render.
(d) "Qualified person" means:
(1) Any natural person licensed, registered or certified to practice
the same type of profession which any professional corporation is authorized to
practice;
(2) the trustee of a trust which is a qualified trust under subsection (a) of
section 401 of the federal internal revenue code, as in effect on January 1,
2004, or of a contribution plan which is a qualified employee stock ownership
plan under subsection (a) of section 409A of the federal internal revenue code,
as in effect on January 1, 2004; or
(3) the trustee of a revocable living trust established by a natural person
who is licensed, registered or certified to practice the type of profession
which any professional corporation is authorized to practice, if the terms of
such trust provide that such natural person is the principal beneficiary and
sole trustee of such trust and such trust does not continue to hold title to
professional corporation stock following such natural person's death for more
than a reasonable period of time necessary to dispose of such stock.
History: L. 1965, ch. 157, § 2;
L. 1972, ch. 63, § 1;
L. 1976, ch. 109, § 1;
L. 1980, ch. 242, § 27;
L. 1981, ch. 104, § 1;
L. 1986, ch. 299, § 1;
L. 1991, ch. 79, § 1;
L. 1997, ch. 65, § 2;
L. 2001, ch. 194, § 1;
L. 2003, ch. 128, § 16;
L. 2004, ch. 143, § 107;
L. 2007, ch. 165, § 1; July 1.
17-2707.Same; definitions.
As used in this act, unless the context clearly indicates that a different
meaning is intended:
(a) "Professional corporation" means a corporation organized under this act.
(b) "Professional service" means the type of personal service rendered by
a person duly licensed, registered or certified by this state as a member of
any of the following professions, each paragraph constituting one type:
(1) A certified public accountant;
(2) an architect;
(3) an attorney-at-law;
(4) a chiropractor;
(5) a dentist;
(6) an engineer;
(7) an optometrist;
(8) an osteopathic physician or surgeon;
(9) a physician, surgeon or doctor of medicine;
(10) a veterinarian;
(11) a podiatrist;
(12) a pharmacist;
(13) a land surveyor;
(14) a licensed psychologist;
(15) a specialist in clinical social work;
(16) a licensed physical therapist;
(17) a landscape architect;
(18) a registered professional nurse;
(19) a real estate broker or salesperson;
(20) a clinical professional counselor;
(21) a geologist;
(22) a clinical psychotherapist;
(23) a clinical marriage and family therapist;
(24) a licensed physician assistant;
(25) a licensed occupational therapist;
(26) a licensed audiologist; and
(27) a licensed speech-pathologist.
(c) "Regulating board" means the court, board or state agency which is
charged with the licensing, registering or certifying and regulation of
the practice of the profession which the professional corporation is organized
to render.
(d) "Qualified person" means:
(1) Any natural person licensed, registered or certified to practice
the same type of profession which any professional corporation is authorized to
practice;
(2) the trustee of a trust which is a qualified trust under subsection (a) of
section 401 of the federal internal revenue code, as in effect on January 1,
2004, or of a contribution plan which is a qualified employee stock ownership
plan under subsection (a) of section 409A of the federal internal revenue code,
as in effect on January 1, 2004; or
(3) the trustee of a revocable living trust established by a natural person
who is licensed, registered or certified to practice the type of profession
which any professional corporation is authorized to practice, if the terms of
such trust provide that such natural person is the principal beneficiary and
sole trustee of such trust and such trust does not continue to hold title to
professional corporation stock following such natural person's death for more
than a reasonable period of time necessary to dispose of such stock.
History: L. 1965, ch. 157, § 2;
L. 1972, ch. 63, § 1;
L. 1976, ch. 109, § 1;
L. 1980, ch. 242, § 27;
L. 1981, ch. 104, § 1;
L. 1986, ch. 299, § 1;
L. 1991, ch. 79, § 1;
L. 1997, ch. 65, § 2;
L. 2001, ch. 194, § 1;
L. 2003, ch. 128, § 16;
L. 2004, ch. 143, § 107;
L. 2007, ch. 165, § 1; July 1.
17-2707.Same; definitions.
As used in this act, unless the context clearly indicates that a different
meaning is intended:
(a) "Professional corporation" means a corporation organized under this act.
(b) "Professional service" means the type of personal service rendered by
a person duly licensed, registered or certified by this state as a member of
any of the following professions, each paragraph constituting one type:
(1) A certified public accountant;
(2) an architect;
(3) an attorney-at-law;
(4) a chiropractor;
(5) a dentist;
(6) an engineer;
(7) an optometrist;
(8) an osteopathic physician or surgeon;
(9) a physician, surgeon or doctor of medicine;
(10) a veterinarian;
(11) a podiatrist;
(12) a pharmacist;
(13) a land surveyor;
(14) a licensed psychologist;
(15) a specialist in clinical social work;
(16) a licensed physical therapist;
(17) a landscape architect;
(18) a registered professional nurse;
(19) a real estate broker or salesperson;
(20) a clinical professional counselor;
(21) a geologist;
(22) a clinical psychotherapist;
(23) a clinical marriage and family therapist;
(24) a licensed physician assistant;
(25) a licensed occupational therapist;
(26) a licensed audiologist; and
(27) a licensed speech-pathologist.
(c) "Regulating board" means the court, board or state agency which is
charged with the licensing, registering or certifying and regulation of
the practice of the profession which the professional corporation is organized
to render.
(d) "Qualified person" means:
(1) Any natural person licensed, registered or certified to practice
the same type of profession which any professional corporation is authorized to
practice;
(2) the trustee of a trust which is a qualified trust under subsection (a) of
section 401 of the federal internal revenue code, as in effect on January 1,
2004, or of a contribution plan which is a qualified employee stock ownership
plan under subsection (a) of section 409A of the federal internal revenue code,
as in effect on January 1, 2004; or
(3) the trustee of a revocable living trust established by a natural person
who is licensed, registered or certified to practice the type of profession
which any professional corporation is authorized to practice, if the terms of
such trust provide that such natural person is the principal beneficiary and
sole trustee of such trust and such trust does not continue to hold title to
professional corporation stock following such natural person's death for more
than a reasonable period of time necessary to dispose of such stock.
History: L. 1965, ch. 157, § 2;
L. 1972, ch. 63, § 1;
L. 1976, ch. 109, § 1;
L. 1980, ch. 242, § 27;
L. 1981, ch. 104, § 1;
L. 1986, ch. 299, § 1;
L. 1991, ch. 79, § 1;
L. 1997, ch. 65, § 2;
L. 2001, ch. 194, § 1;
L. 2003, ch. 128, § 16;
L. 2004, ch. 143, § 107;
L. 2007, ch. 165, § 1; July 1.