Part Definitions

1. Law
2. Tennessee Code
3. Securities, Corporations and Associations
4. Special Purpose Corporations and Associations
5. Tennessee Professional Corporation Act
6. Part Definitions

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

1. “Disqualified person” means an individual or entity that for any reason is or becomes ineligible under this part to be issued shares by a professional corporation;
2. “Domestic professional corporation” means a professional corporation;
3. “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;
4. “Law” includes rules promulgated in accordance with § 48-101-630;
5. “Licensing authority” means the officer, board, agency, court or other authority in this state empowered to license or otherwise authorize the rendition of a professional service;
6. “Professional corporation” means a corporation for profit, other than a foreign professional corporation, subject to this part;
7. “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, and that may not be lawfully rendered by a corporation under the Tennessee Business Corporation Act, compiled in chapters 11-27 of this title; and
8. “Qualified person” means an individual, general partnership or professional corporation to whom shares under this part may be issued.

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