N.Y. Business Corporation Law 1512 – Corporate name
§ 1512. Corporate name.
Terms Used In N.Y. Business Corporation Law 1512
- 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.
- Design professional service corporation: means a corporation organized under this article practicing professional engineering, architecture, landscape architecture, geology, or land surveying, or practicing any combination of such professions. See N.Y. Business Corporation Law 1501
- 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.
- Profession: includes any practice as an attorney and counselor-at-law, or as a licensed physician, and those occupations designated in title eight of the education law. See N.Y. Business Corporation Law 1501
- Professional service: means any type of service to the public which may be lawfully rendered by a member of a profession within the purview of his or her profession. See N.Y. Business Corporation Law 1501
- Professional service corporation: means a corporation organized under this article. See N.Y. Business Corporation Law 1501
(a) Notwithstanding any other provision of law, the name of a professional service corporation, including a design professional service corporation, may contain any word which, at the time of incorporation, could be used in the name of a partnership practicing a profession which the corporation is authorized to practice, and may not contain any word which could not be used by such a partnership. Provided, however, the name of a professional service corporation may not contain the name of a deceased person unless
(1) such person's name was part of the corporate name at the time of such person's death; or
(2) such person's name was part of the name of an existing partnership and at least two-thirds of such partnership's partners become shareholders of the corporation.
(b) The name of a professional service corporation shall end with the words "Professional Corporation" or the abbreviation "P.C." The name of a design professional service corporation shall end with the words "design professional corporation" or the abbreviation "D.P.C." The provisions of subparagraph one of paragraph (a) of section 301 of this chapter shall not apply to a professional service corporation.