§ 5-101. Definitions
West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2007
Effective: October 1, 2007
MD Code, Corporations and Associations, § 5-101
§ 5-101. Definitions
(b) “Disqualified person” means an individual or entity that for any reason is or becomes ineligible under this subtitle to be issued stock by a professional corporation.
(c) “Foreign professional corporation” means a professional corporation organized under the laws of another state or a territory, possession, or district of the United States.
(d) “License” means any license, certification, certificate, registration, or other legal authorization required by statute as a condition precedent to the performance of a professional service in the State.
(e) “Licensing unit” means the board, agency, court, or other entity that licenses or otherwise legally authorizes the rendition of a professional service.
(f) “Professional corporation” means a corporation organized under this subtitle for the purpose of rendering professional services.
(g)(1) “Professional service” means a service that may lawfully be rendered only by a person licensed or otherwise authorized by a licensing unit in the State to render the service and that may not lawfully be rendered by a corporation under the Maryland General Corporation Law.1
Credits
Added by Acts 1993, c. 413, § 2. Amended by Acts 2007, c. 31, § 1, eff. Oct. 1, 2007; Acts 2007, c. 32, § 1, eff. Oct. 1, 2007.
Footnotes
Corporations and Associations, § 1-101 et seq.
MD Code, Corporations and Associations, § 5-101, MD CORP & ASSNS § 5-101
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.
End of Document |