2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 10 - Incorporation of Professional Occupations
§ 704. Organization

(a) Notwithstanding any other provision of law, one or more individuals duly authorized by law to render the same professional service within the United States Virgin Islands may organize, or cause to be organized, a professional service corporation for pecuniary profit under this chapter for the purpose of rendering the same professional service, except that one or more individuals duly authorized by law to practice professional engineering, architecture, landscape architecture or land surveying within the United States Virgin Islands may organize, or cause to be organized, a professional service corporation for pecuniary profit under this chapter for the purpose of rendering such professional services as such individuals are authorized to practice.

(b) The certificate of incorporation of a professional service corporation shall meet the requirements of this chapter and (1) shall state the profession or professions to be practiced by such corporation and the names and residence addresses of all individuals who are to be the original shareholders, directors and officers of such corporation, and (2) shall have attached thereto a certificate or certificates issued by the appropriate licensing authority certifying that each of the proposed shareholders, directors and officers is authorized by law to practice a profession which the corporation is being organized to practice and, if applicable, that one or more of such individuals is authorized to practice each profession which the corporation will be authorized to practice.

(c) A certified copy of the certificate of incorporation and of each amendment thereto shall be filed by the corporation with the licensing authority within thirty days after the filing of such certificate or amendment with the Office of the Lieutenant Governor.

(d) A professional service corporation, other than a corporation authorized to practice law, shall be under the supervision of the appropriate licensing authority as set forth in Title 27 and be subject to disciplinary proceedings and penalties, and its certificate of incorporation shall be subject to suspension, revocation of annulment for cause, in the same manner and to the same extent as is provided with respect to individuals and their licenses, certificates, and registrations in Title 27 relating to the applicable profession.

(e) A corporation authorized to practice law shall be subject to the regulation and control of, and its certificate of incorporation shall be subject to suspension, revocation or annulment for cause by the Supreme Court of the Virgin Islands in the same manner and to the same extent provided in the rules of the Supreme Court with respect to individual attorneys.

(f) The order of suspension, revocation or annulment of the certificate of incorporation of a professional service corporation pursuant to subdivisions (d) and (e) of this section shall be effective upon the filing of such order with the Office of the Lieutenant Governor.