§ 10A-4-2.03 — Powers of Professional Corporation Generally; Profession Limited by Certificate of Formation

Alabama § 10A-4-2.03

• Jurisdiction: Alabama
• Title 10A: Alabama Business and Nonprofit Entities Code
• Ch. 4: Professional Corporations
• Art. 2: Purposes, Powers, and Organization

Text

(a) Subject to Section 10A-4-5.07, a domestic professional corporation, including a professional corporation that is a nonprofit corporation, shall have all the powers necessary or convenient to effectuate its purposes, including those enumerated in Sections 10A-1-2.11, 10A-1-2.12, and 10A-1-2.13.
(b) A domestic professional corporation shall not engage in any profession other than the profession
or professions
permitted by its certificate of
incorporation
, except that a domestic professional corporation may invest its funds in real estate, mortgages, stocks, bonds, or any other type investment.

Legislative History

(Acts 1983, No. 83-514, p. 763, §6; §10-4-385; amended and renumbered by Act 2009-513, p. 967, §203; Act 2024-413, §1.)