2020 Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 4 - Professional Corporations.
Article 2 - Purposes, Powers, and Organization.
Section 10A-4-2.03 - Powers of Professional Corporation Generally; Profession Limited by Certificate of Formation.
Section 10A-4-2.03
Powers of professional corporation generally; profession limited by certificate of formation.
(a) Subject to Section 10A-4-5.07, a domestic professional corporation, including a professional corporation that is a nonprofit corporation, shall have all the powers necessary or convenient to effectuate its purposes, including those enumerated in Sections 10A-1-2.11, 10A-1-2.12, and 10A-1-2.13.
(b) A domestic professional corporation shall not engage in any profession other than the profession permitted by its certificate of formation, 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; §10-4-385; amended and renumbered by Act 2009-513, p. 967, §203.)
