Maine Statutes
§ 13 §735 — Prohibited activities
Maine·Title 13 CORPORATIONS·Part 1 CORPORATIONS GENERALLY·Ch. 22-A MAINE PROFESSIONAL SERVICE CORPORATION ACT
1.Limited activities.
A professional corporation may not render any professional service or engage in any business or service other than the professional service and business authorized by its articles of incorporation and services or businesses reasonably related thereto.
2.Investments.
Nothing in subsection 1 prohibits a professional corporation from investing its funds in real estate, mortgages, securities or any other type of investment.
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Legislative History
PL 2001, c. 640, §B2 (NEW). PL 2001, c. 640, §B7 (AFF).
Nearby Sections
15
§ 13 §701
Short title§ 13 §702
Intent§ 13 §703
Definitions§ 13 §704
Exemptions§ 13 §705
Corporate organization§ 13 §706
Method of organization§ 13 §707
Limitation§ 13 §708
Interpretation; liability§ 13 §708-A
Interpretation; liability§ 13 §709
Business transactions§ 13 §71
Purposes§ 13 §710
Capital stock§ 13 §711
Disqualifications§ 13 §712
Alienation of shares§ 13 §713
Corporate and assumed names