TITLE 7

Corporations, Associations, and Partnerships

CHAPTER 7-5.1

Professional Service Corporations

SECTION 7-5.1-3



   § 7-5.1-3  Authority to practice. –

(a) Except as specifically provided in subsection (b) of this section, any

corporation organized under this chapter may engage in rendering professional

services of not more than one of the professions enumerated in § 7-5.1-2,

provided that every officer, director, and shareholder of the corporation is an

individual authorized to practice the profession and is employed by the

corporation in that practice. No individual may be an officer, shareholder,

director, or employee of any other corporation engaged in the practice of the

same profession without the prior written approval of the applicable regulatory

agency or agencies.



   (b) Nothing in these provisions is to be construed to

prohibit a corporation organized under this chapter from engaging in the

practice of the following combination of professions:



   (1) Physicians, dentists, registered nurses, podiatrists,

optometrists, physician assistants, chiropractic physicians, physical

therapists, psychologists, midwives or nurse-midwives;



   (2) Landscape architects, professional engineers, architects,

and land surveyors; and



   (3) Certified public accountants and licensed public

accountants.



History of Section.

(P.L. 1964, ch. 185, § 1; P.L. 1972, ch. 100, § 3; P.L. 1981, ch.

245, § 1; P.L. 1989, ch. 537, § 1; P.L. 1992, ch. 281, § 1; P.L.

1998, ch. 232, § 1; P.L. 1998, ch. 345, § 1; P.L. 2000, ch. 328,

§ 1; P.L. 2000, ch. 513, § 1; P.L. 2002, ch. 242, § 1; P.L.

2012, ch. 101, § 1; P.L. 2012, ch. 106, § 1.)