(a) The corporation is organized and exists pursuant to the General Corporation Law and is a professional corporation within the meaning of the Moscone-Knox Professional Corporations Act, Corporations Code Section 13400, et seq.

(b) Each shareholder, director and officer (except as provided in Section 13403 of the Corporations Code and Section 2537.2 of the code) holds a valid speech-language pathologist's or audiologist's license, as the case may be. A speech-language pathologist may be a shareholder, officer or director of an audiology corporation and an audiologist may be a shareholder, officer or director of a speech-language pathology corporation in accordance with the numerical restrictions set forth in Section 13401.5 of the Corporations Code.

(c) Each employee of the corporation who will practice speech-language pathology or audiology whether or not a director, officer or shareholder, holds a valid speech-language pathologist's or audiologist's license.