§ 33-19-103 — Supplement definitions.

In this chapter: (1) "Disqualified person" means an individual or entity that for any reason is or becomes ineligible under this chapter to be issued shares by a professional corporation. (2) "Domestic professional corporation" means a professional corporation. (3) "Foreign professional corporation" means a corporation or association for profit incorporated for the purpose of rendering professional services under a law other than the law of this state. (4) "Law" includes rules promulgated in accordance with Section 33-19-630. (5) "Licensing authority" means the officer, board, agency, court, or other authority in this state empowered to license or otherwise authorize the rendition of a professional service. (6) "Professional corporation" means a corporation for profit, other than a foreign professional corporation, subject to the provisions of this chapter. (7) "Professional service" means a service that may be rendered lawfully only by a person licensed or otherwise authorized by a licensing authority in this State to render the service and that may not be lawfully rendered by a corporation under chapters 1 through 17 of this title. (8) "Qualified person" means an individual, general partnership, or professional corporation that is eligible under this chapter to be issued shares by a professional corporation.

Legislative History

HISTORY: Derived from 1976 Code SECTION 33-51-20 [1962 Code SECTION 56-1602; 1962 (52) 1911; Repealed, 1988 Act No. 444, SECTION 4(5)]; 1988 Act No. 444, SECTION 2. ARTICLE 2 Creation