§ 1514 — Triennial statement

New York § 1514

• Jurisdiction: New York
• Law BSC: Business Corporation
• Art. 15: Professional Service Corporations

Text

§ 1514. Triennial statement.\n (a) Each professional service corporation shall, at least once every\nthree years on or before the date prescribed by the licensing authority,\nfurnish a statement to the licensing authority listing the name and\nresidence address of each shareholder, director and officer of such\ncorporation and certifying that all such individuals are authorized by\nlaw in this state to practice a profession which such corporation is\nauthorized to practice. The statement shall be signed by the president\nor any vice-president of the corporation and attested to by the\nsecretary or any assistant secretary of the corporation.\n (b) Each design professional service corporation shall, at least once\nevery three years on or before the date prescribed by the licensing\nauthority, furnish a statement to the licensing authority listing the\nnames and residence addresses of each shareholder, director and officer\nof such corporation and certify as the date of certification and at all\ntimes over the entire three year period that:\n (i) greater than seventy-five percent of the outstanding shares of\nstock of the corporation are and were owned by design professionals and\nan ESOP (or ESOPs) with greater than seventy-five percent of the plan's\nvoting trustees or greater than seventy-five percent of the plan's\ncommittee members being design professionals,\n (ii) greater than seventy-five percent of the directors are and were\ndesign professionals,\n (iii) greater than seventy-five percent of the officers are and were\ndesign professionals,\n (iv) the president, the chairperson of the board of directors and the\nchief executive officer or officers are and were design professionals,\nand\n (v) the single largest shareholder is and was either a design\nprofessional or an ESOP with greater than seventy-five percent of the\nplan's voting trustees being design professionals and greater than\nseventy-five percent of the plan's committee members being design\nprofessionals.\n The statement shall be signed by the president or any design\nprofessional vice-president and attested to by the secretary or any\nassistant secretary of the corporation.\n (c) Each firm established for the business purpose of incorporating as\na professional service corporation pursuant to paragraph (h) of section\nfifteen hundred three of this article shall, at least once every three\nyears on or before the date prescribed by the licensing authority,\nfurnish a statement to the licensing authority listing the names and\nresidence addresses of each shareholder, director and officer of such\ncorporation and certify as the date of certification and at all times\nover the entire three year period that:\n (i) at least a simple majority of the outstanding shares of stock of\nthe corporation are and were owned by certified public accountants,\n (ii) at least a simple majority of the directors are and were\ncertified public accountants,\n (iii) at least a simple majority of the officers are and were\ncertified public accountants,\n (iv) the president, the chairperson of the board of directors and the\nchief executive officer or officers are and were certified public\naccountants.\nThe statement shall be signed by the president or any certified public\naccountant vice-president and attested to by the secretary or any\nassistant secretary of the corporation.\n