Definitions

Checkout our iOS App for a better way to browser and research.

As used in this chapter, unless the context requires otherwise:

"Disqualified person" means an individual, general partnership, professional corporation or other entity that for any reason is or becomes ineligible under this chapter to be issued shares by a professional corporation.

"Domestic professional corporation" means a professional corporation.

"Foreign professional corporation" means a corporation or association for profit incorporated for the purpose of rendering professional services under a law other than the law of this state.

"Law" includes rules promulgated in accordance with Section 79-10-103.

"Licensing authority" means the office, board, agency, court or other authority in this state empowered to license or otherwise authorize the rendition of a professional service.

"Professional corporation" means a corporation for profit, other than a foreign professional corporation, subject to the provisions of this chapter.

"Professional service" means a service that may be lawfully rendered only by a person licensed or otherwise authorized by a licensing authority in this state to render the service, including, without limitation, certified public accountants, dentists, architects, veterinarians, osteopaths, physicians, surgeons and attorneys-at-law.

"Qualified person" means an individual, general partnership, professional corporation or other entity that is eligible under this chapter to be issued shares by a professional corporation.


Download our app to see the most-to-date content.