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(1) A physician and surgeon licensed under this chapter may engage in practice as a physician and surgeon, or in the practice of medicine only as an individual licensee; but as an individual licensee, he may be:
(a) an individual operating as a business proprietor;
(b) an employee of another person;
(c) a partner in a lawfully organized partnership;
(d) a lawfully formed professional corporation;
(e) a lawfully organized limited liability company;
(f) a lawfully organized business corporation; or
(g) any other form of organization recognized by the state which is not prohibited by division rule made in collaboration with the board.
(2) Regardless of the form in which a licensee engages in the practice of medicine, the licensee may only permit the practice of medicine in that form of practice to be conducted by an individual:
(a) licensed in Utah as a physician and surgeon under Section 58-67-301 or as an osteopathic physician and surgeon under Section 58-68-301; and
(b) who is able to lawfully and competently engage in the practice of medicine.