(a)        A professional corporation shall be subject to the applicable rules and regulations adopted by, and all the disciplinary powers of, the licensing board as herein defined. Nothing in this Chapter shall impair the disciplinary powers of any licensing board applicable to a licensee as herein defined. No professional corporation may do any act which its shareholders as licensees are prohibited from doing.

(b)        Subject to the requirements of Article 2A of Chapter 150B of the N.C. Gen. Stat., any licensing board subject to this Chapter may adopt rules to implement the provisions of this Chapter, including any rules needed to establish fees within the limits set by this Chapter. ?(1969, c. 718, s. 12; 2014-120, s. 3.)

Terms Used In North Carolina General Statutes 55B-12

  • 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.
  • Licensee: means any natural person who is duly licensed by the appropriate licensing board to render the same professional services which will be rendered by the professional corporation of which he is, or intends to become, an officer, director, shareholder or employee. See North Carolina General Statutes 55B-2
  • Licensing board: means a board which is charged with the licensing and regulating of the profession or practice in this State in which the professional corporation is organized to engage. See North Carolina General Statutes 55B-2
  • Professional corporation: means a corporation which is engaged in rendering the professional services as herein specified and defined, pursuant to a certificate of registration issued by the Licensing Board regulating the profession or practice, and which has as its shareholders only those individuals permitted by N. See North Carolina General Statutes 55B-2