Section 18. The annual report of a professional corporation or a foreign professional corporation shall, in addition to the information required by section 16.22 of subdivision B of Part 16 of chapter 156D, shall list the names and addresses of all shareholders and shall contain a certification that the shareholders, or all of the partners of a shareholder which is a general partnership are duly licensed to render 1 or more professional services for which the corporation was organized or are professional corporations authorized to render the professional services. A duplicate original copy of each annual report shall be filed at the same time with the regulating board. No filing fee shall be charged by the regulating board for such filing.

Terms Used In Massachusetts General Laws ch. 156A sec. 18

  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
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