A professional corporation under this Chapter may be formed pursuant to the provisions of Chapter 55, the North Carolina Business Corporation Act, with the following limitations:

(1)        At least one incorporator shall be a “licensee” as hereinabove defined in N.C. Gen. Stat. § 55B-2(2).

(2)        All of the shares of stock of the corporation shall be owned and held by a licensee, or licensees, as hereinabove defined in N.C. Gen. Stat. § 55B-2(2), except as otherwise permitted in N.C. Gen. Stat. § 55B-6

(3)        At least one director and one officer shall be a “licensee” as hereinabove defined in N.C. Gen. Stat. § 55B-2(2).

(4)        The articles of incorporation, in addition to the requirements of Chapter 55, shall designate the personal services to be rendered by the professional corporation and shall be accompanied by a certification by the appropriate licensing board that the ownership of the shares of stock is in compliance with the requirements of N.C. Gen. Stat. § 55B-4(2) and N.C. Gen. Stat. § 55B-6 (1969, c. 718, s. 4; 1977, c. 855, s. 1; 1989 (Reg. Sess., 1990), c. 1024, s. 3; 1991, c. 205, s. 2; 1995, c. 351, s. 15.)

Terms Used In North Carolina General Statutes 55B-4

  • 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.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • 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
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