As used in this article, unless the context otherwise requires, the term:
Terms Used In N.Y. Business Corporation Law 1525
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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 profession. See N.Y. Business Corporation Law 1525
(a) “Licensing authority” means the regents of the university of the state of New York or the state education department, as the case may be, in the case of all professions licensed under title eight of the education law, and the appropriate appellate division of the supreme court in the case of the profession of law.
(b) “Profession” includes any practice as an attorney and counsellor-at-law, or as a licensed physician, and those professions designated in title eight of the education law.
(c) “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 profession.
(d) “Foreign professional service corporation” means a professional service corporation, whether or not denominated as such, organized under the laws of a jurisdiction other than this state, all of the shareholders, directors and officers of which are authorized and licensed to practice the profession for which such corporation is licensed to do business; except that all shareholders, directors and officers of a foreign professional service corporation which provides health services in this state shall be licensed in this state.
(e) “Officer” does not include the secretary or an assistant secretary of a corporation having only one shareholder.