New York § 1501 Definitions

New York Statutes

§ 1501 — Definitions

New York·Law BSC Business Corporation·Art. 15 Professional Service Corporations

§ 1501. Definitions.\n As used in this article, unless the context otherwise requires, the\nterm:

(a)"licensing authority" means the regents of the university of\nthe state of New York or the state education department, as the case may\nbe, in the case of all professions licensed under title eight of the\neducation law, and the appropriate appellate division of the supreme\ncourt in the case of the profession of law.\n (b) "Profession" includes any practice as an attorney and\ncounselor-at-law, or as a licensed physician, and those occupations\ndesignated in title eight of the education law.\n (c) "Professional service" means any type of service to the public\nwhich may be lawfully rendered by a member of a profession within the\npurview of his or her profession.\n (d) "Professional s

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§ 1501. Definitions.\n As used in this article, unless the context otherwise requires, the\nterm: (a) "licensing authority" means the regents of the university of\nthe state of New York or the state education department, as the case may\nbe, in the case of all professions licensed under title eight of the\neducation law, and the appropriate appellate division of the supreme\ncourt in the case of the profession of law.\n (b) "Profession" includes any practice as an attorney and\ncounselor-at-law, or as a licensed physician, and those occupations\ndesignated in title eight of the education law.\n (c) "Professional service" means any type of service to the public\nwhich may be lawfully rendered by a member of a profession within the\npurview of his or her profession.\n (d) "Professional service corporation" means a corporation organized\nunder this article.\n (e) "Officer" does not include the secretary or an assistant secretary\nof a corporation having only one shareholder.\n (f) "Other business entity" means any person other than a natural\nperson, general partnership or a domestic or foreign business\ncorporation, and includes a professional service limited liability\ncompany formed pursuant to the provisions of the New York limited\nliability company law.\n (g) "Design professional service corporation" means a corporation\norganized under this article practicing professional engineering,\narchitecture, landscape architecture, geology, or land surveying, or\npracticing any combination of such professions. The provisions of this\narticle applicable to professional service corporations shall apply to\ndesign professional service corporations except to the extent that any\nprovision is either inconsistent with a provision expressly applying to\ndesign professional service corporations or not relevant thereto.\n (h) "Design professional" means an individual licensed and registered\npursuant to title eight of the education law to practice professional\nengineering, architecture, landscape architecture, geology or land\nsurveying.\n (i) "Employee stock ownership plan" (ESOP) means a defined\ncontribution plan established pursuant to Section 4975(e)(7) of the\nInternal Revenue Code.\n

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