New Jersey Statutes
§ 14A:17-9. Limitations on corporate business activity
New Jersey·Title 14A CORPORATIONS, GENERAL
9.Limitations on corporate business activity. No professional corporation shall engage in any business other than the rendering of the professional services for which it was specifically incorporated; and no foreign professional legal corporation shall engage in any business in this State other than the rendering of legal services of the type provided by attorneys-at-law; provided, that nothing in this act or in any other provisions of existing law applicable to corporations shall be interpreted to prohibit such corporation from investing its funds in real estate, mortgages, stocks, bonds or any other type of investments, or from owning real or personal property necessary for, or appropriate or desirable in, the fulfillment or rendering of its professional services. L.1969,c.232,s.9; amen
Free access — add to your briefcase to read the full text and ask questions with AI
New Jersey § 14A:17-9. Limitations on corporate business activity — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 14A:17-1
Legislative intent§ 14A:17-10. Who may own shares; voting trust; estate ownership
§ 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:17-14
Corporate name.§ 14A:17-15. Applicable law; consolidation, merger; report, contents
§ 14A:17-15. Applicable law; consolidation, merger; report, contents§ 14A:17-16
Provisions severable; repealer§ 14A:17-17
Construction§ 14A:17-18
Repeal§ 14A:17-2
Short title§ 14A:17-3
Terms defined.§ 14A:17-4
Application of act§ 14A:17-5. Professional corporation and foreign professional legal corporation
§ 14A:17-5. Professional corporation and foreign professional legal corporation§ 14A:17-6
Directors and officers