2009 Alabama Code
Title 10 — CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS.
Chapter 4 — PARTICULAR CORPORATIONS, ASSOCIATIONS, ETC.
Section 10-4-385 Powers of professional corporation generally; profession limited by articles of incorporation.
Section 10-4-385Powers of professional corporation generally; profession limited by articles of incorporation.
(a) Subject to Section 10-4-402, a domestic professional corporation shall have all the powers necessary or convenient to effectuate its purposes, including those enumerated in the Alabama Business Corporation Act; provided, however, that if such professional corporation is a not-for-profit corporation, it shall have all the powers necessary or convenient to effectuate its purposes, including those enumerated in the Alabama Nonprofit Corporation Act.
(b) A domestic professional corporation shall not engage in any profession other than the profession permitted by its articles of incorporation, except that a domestic professional corporation may invest its funds in real estate, mortgages, stocks, bonds, or any other type investment.
(Acts 1983, No. 83-514, p. 763, §6.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
