Washington Code 18.100.090 – Stock issuance
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Except as otherwise provided in RCW 18.100.118, no professional corporation organized under the provisions of this chapter may issue any of its capital stock to anyone other than the trustee of a qualified trust or an individual who is duly licensed or otherwise legally authorized to render the same specific professional services within this or any other state as those for which the corporation was incorporated.
Terms Used In Washington Code 18.100.090
- 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.
- qualified trust: means one of the following:
Washington Code 18.100.030Trustee: A person or institution holding and administering property in trust.