California Business and Professions Code 2780 – The income of a nursing corporation attributable to professional …
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The income of a nursing corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined in § 13401 of the Corporations Code, shall not in any manner accrue to the benefit of the shareholder or their shares in the nursing corporation.
(Amended by Stats. 2023, Ch. 510, Sec. 40. (SB 887) Effective January 1, 2024.)
Terms Used In California Business and Professions Code 2780
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.