Section .0100 - Regulations For Professional Corporations And Professional Limited Liability Companies Practicing Law

Link to law: http://reports.oah.state.nc.us/ncac/title 27 - state bar/chapter 01 - rules and regulations for the north carolina state bar/subchapter e/27 ncac 01e .0101.html
Published: 2015

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SUBCHAPTER 1E - REGULATIONS FOR ORGANIZATIONS PRACTICING

LAW

 

SECTION .0100 - REGULATIONS FOR PROFESSIONAL CORPORATIONS AND

PROFESSIONAL LIMITED LIABILITY COMPANIES PRACTICING LAW

 

27 NCAC 01E .0101                          AUTHORITY, SCOPE, AND

DEFINITIONS

(a)  "Authority" Chapter 55B of the General

Statutes of North Carolina, being "the Professional Corporation Act,"

particularly Section 55B-12, and Chapter 57C, being the "North Carolina

Limited Liability Company Act," particularly Section 57C-2-01(c),

authorizes the Council of the North Carolina State Bar (the council) to adopt

regulations for professional corporations and professional limited liability

companies practicing law.  These regulations are adopted by the council

pursuant to that authority.

(b)  "Statutory Law" These regulations only

supplement the basic statutory law governing professional corporations (Chapter

55B) and professional limited liability companies (Chapter 57C) and shall be

interpreted in harmony with those statutes and with other statutes and laws

governing corporations and limited liability companies generally.

(c)  "Definitions"  All terms used in these

regulations shall have the meanings set forth below or shall be as defined in

the Professional Corporation Act or the North Carolina Limited Liability

Company Act as appropriate.

(1)           "Council" shall mean the Council

of the North Carolina State Bar.

(2)           "Licensee" shall mean any natural

person who is duly licensed to practice law in North Carolina.

(3)           "Professional limited liability

company or companies" shall mean any professional limited liability

company or companies organized for the purpose of practicing law in North

Carolina.

(4)           "Professional corporations" shall

mean any professional corporation or corporations organized for the purpose of

practicing law in North Carolina.

(5)           "Secretary" shall mean the

secretary of the North Carolina State Bar.

 

History Note:        Authority G.S. 84-23;

Readopted Eff. December 8, 1994.