§ 53-6-3 — Definitions

New Mexico § 53-6-3

• Jurisdiction: New Mexico
• Ch. 53: Corporations
• Art. 6: Professional Corporations

Text

As used in this act [53-6-1 to 53-6-13 NMSA 1978]: A. "professional service" means any type of personal service to the public which requires, as a condition precedent to the rendering of such service, the obtaining of a license or other legal authorization and which, prior to the passage of the Professional Corporation Act and by reason of law, could not be performed by a corporation. The term includes, but is not necessarily limited to, the personal services rendered by certified public accountants, registered public accountants, chiropractors, optometrists, dentists, osteopaths, podiatrists, architects, veterinarians, doctors of medicine, doctors of dentistry, physicians and surgeons, attorneys-at-law and life insurance agents; and B. "professional corporation" means a corporation which is organized under the Professional Corporation Act for the sole and specific purpose of rendering professional service and which has as its shareholders only individuals who themselves are licensed or otherwise legally authorized within this state to render the same professional service as the corporation.

Legislative History

1953 Comp., § 51-22-3, enacted by Laws 1963, ch. 16, § 3.