New Jersey § 14A:17-10. Who may own shares; voting trust; estate ownership

New Jersey Statutes

§ 14A:17-10. Who may own shares; voting trust; estate ownership

Title 14ACORPORATIONS, GENERAL

This text of New Jersey § 14A:17-10. Who may own shares; voting trust; estate ownership is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 14A:17-10. Who may own shares; voting trust; estate ownership (2026).

Text

10. Who may own shares; voting trust; estate ownership.

(a)No professional corporation may issue any of its shares to anyone other than an individual who is duly licensed or otherwise legally authorized to render the same professional service as that for which the corporation was incorporated. No shareholder of a professional corporation shall enter into a voting trust agreement or proxy or any other type of agreement vesting another person not a shareholder of the corporation with the authority to exercise the voting power of any or all of his shares. Subject to the provisions of the corporation's certificate of incorporation, the estate of a deceased shareholder may continue to hold the shares of such shareholder for a reasonable period of administration of the estate, but shall not be

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10. Who may own shares; voting trust; estate ownership. (a) No professional corporation may issue any of its shares to anyone other than an individual who is duly licensed or otherwise legally authorized to render the same professional service as that for which the corporation was incorporated. No shareholder of a professional corporation shall enter into a voting trust agreement or proxy or any other type of agreement vesting another person not a shareholder of the corporation with the authority to exercise the voting power of any or all of his shares. Subject to the provisions of the corporation's certificate of incorporation, the estate of a deceased shareholder may continue to hold the shares of such shareholder for a reasonable period of administration of the estate, but shall not be authorized to participate in any decisions concerning the rendering of professional service. (b) A foreign professional legal corporation rendering legal services in this State shall have at least one shareholder who is an attorney-at-law licensed and eligible to practice in this State under the Rules of the Supreme Court. L.1969,c.232,s.10; amended 1995,c.375,s.6.

Nearby Sections

15

§ 14A:17-1

Legislative intent

§ 14A:17-10. Who may own shares; voting trust; estate ownership

§ 14A:17-11

Disqualification to render service

§ 14A:17-12

Transfer of shares

§ 14A:17-13

Corporate existence; corporation to convert to business corporation; acquisition of shares of disqualified or deceased shareholder

§ 14A:17-14

Corporate name.

§ 14A:17-15. Applicable law; consolidation, merger; report, contents

§ 14A:17-16

Provisions severable; repealer

§ 14A:17-17

§ 14A:17-18

§ 14A:17-2

§ 14A:17-3

§ 14A:17-4

§ 14A:17-5. Professional corporation and foreign professional legal corporation

§ 14A:17-6

Directors and officers

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Bluebook (online)

New Jersey § 14A:17-10. Who may own shares; voting trust; estate ownership, Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/14A/14A%3A17-10.%20Who%20may%20own%20shares%3B%20voting%20trust%3B%20estate%20ownership.