§ 5-104. Activity limited to service authorized
West's Annotated Code of MarylandCorporations and Associations
MD Code, Corporations and Associations, § 5-104
§ 5-104. Activity limited to service authorized
(a) A professional corporation may not render a professional service or engage in an activity other than the professional service authorized by its articles of incorporation.
(b) Except as provided in subsection (c) of this section, subsection (a) of this section does not prohibit a professional corporation from investing its funds in real estate, mortgages, securities, or any other type of investment.
(c) A professional corporation may not, through any investment, subsidiary, or other means, engage or participate in the active management of any entity, association, or venture whose business purpose is not reasonably related to the rendering of a professional service authorized by its articles of incorporation.
Credits
Added by Acts 1993, c. 413, § 2.
MD Code, Corporations and Associations, § 5-104, MD CORP & ASSNS § 5-104
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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