§ 48-101-603 — Part definitions

Tennessee § 48-101-603

• Jurisdiction: Tennessee
• Title: 48

Text

As used in this part, unless the context otherwise requires: (1) "Disqualified person" means an individual or entity that for any reason is or becomes ineligible under this part 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 § 48-101-630 ; (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 this part; (7) "Professional service" means a service that may be lawfully rendered 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 the Tennessee Business Corporation Act, compiled in chapters 11-27 of this title; and (8) "Qualified person" means an individual, general partnership or professional corporation to whom shares under this part may be issued.

Legislative History

Acts 1992, ch. 698, § 1; T.C.A., § 48-3-603.