District of Columbia § 29-508 Qualifications of shareholders, director, and officer.

District of Columbia Statutes

§ 29-508 — Qualifications of shareholders, director, and officer.

District of Columbia·Title 29 Business Organizations. [Enacted title]·Ch. 5 Professional Corporations.

(a)For the purposes of this section, the term “officer” means the chair of the board, president, vice-president, treasurer, or secretary.

(b)A person shall not be a shareholder, director, or officer of a professional corporation or render professional services on its behalf unless the person is an individual licensed to render a professional service for which the corporation is organized; provided, that if a professional corporation has only one shareholder, the secretary of the corporation need not be licensed to perform, and shall not perform if not so licensed, such professional services.

(c)Nothing in this chapter shall require a shareholder or incorporator of a professional corporation to have a present or future employment relationship with the corporation or actively to partici

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(a) For the purposes of this section, the term “officer” means the chair of the board, president, vice-president, treasurer, or secretary.

(b) A person shall not be a shareholder, director, or officer of a professional corporation or render professional services on its behalf unless the person is an individual licensed to render a professional service for which the corporation is organized; provided, that if a professional corporation has only one shareholder, the secretary of the corporation need not be licensed to perform, and shall not perform if not so licensed, such professional services.

(c) Nothing in this chapter shall require a shareholder or incorporator of a professional corporation to have a present or future employment relationship with the corporation or actively to participate in any capacity in the production of income of, or performance of professional service by, such corporation.

District of Columbia § 29-508 (Qualifications of shareholders, director, and officer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.