The income of a shorthand reporting corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined by § 13401 of the Corporations Code, shall not in any manner accrue to the benefit of such shareholder for his shares in the shorthand reporting corporation.

(Added by Stats. 1972, Ch. 1306.)

Terms Used In California Business and Professions Code 8045

  • 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.
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