One or more individuals, each of whom is licensed to render a professional service, may incorporate a professional corporation for pecuniary profit and become shareholders therein in the manner provided in the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978]. The Business Corporation Act applies to professional corporations. If the provisions of the Business Corporation Act conflict with the provisions of the Professional Corporation Act, the provisions of the Professional Corporation Act shall prevail.
History: 1953 Comp., § 51-22-4, enacted by Laws 1969, ch. 245, § 1.
ANNOTATIONSRequirements for naming dentists' professional corporations. — Dentists may form a professional corporation for the practice of dentistry so long as the name of the corporation contains all of the names of the members of the professional corporation plus the words "professional corporation" or some other word or abbreviation of a word authorized by 53-6-6 NMSA 1978. 1969 Op. Att'y Gen. No. 69-63.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Corporations §§ 53, 54.
Propriety, under state statutes or bar association or court rules, of formation of multistate law partnership or professional service corporation, 6 A.L.R.4th 1251.
18 C.J.S. Corporations § 25 et seq.