2006 Code of Virginia § 13.1-544 - Who may organize and become shareholder

13.1-544. Who may organize and become shareholder.

A. An individual or group of individuals (i) duly licensed or otherwiselegally authorized to render the same professional services other than thoseof architects, professional engineers or land surveyors, or to use a titleother than those of certified landscape architects or certified interiordesigners, of which at least one is duly licensed or otherwise legallyauthorized to render such professional services within the Commonwealth, or(ii) complying with the provisions of 13.1-549 and duly licensed to renderwithin the Commonwealth the professional services of architects, professionalengineers or land surveyors, or legally authorized to use within theCommonwealth the title of certified landscape architects or certifiedinterior designers, or any combination thereof, may organize a professionalcorporation for pecuniary profit under the provisions of Chapter 9 (13.1-601 et seq.) of this title or organize a professional corporation as anonstock corporation under the provisions of Chapter 10 ( 13.1-801 et seq.)of this title, for the sole and specific purpose of rendering the same andspecific professional service, subject to any laws, not inconsistent with theprovisions of this chapter, which are applicable to the practice of thatprofession in the corporate form.

B. An eligible employee stock ownership plan or any individual or group ofindividuals described in clause (i) or (ii) of subsection A may become ashareholder or shareholders of a professional corporation for pecuniaryprofit under the provisions of Chapter 9 ( 13.1-601 et seq.) of this title,for the sole and specific purpose of rendering the same and specificprofessional service, subject to any laws, not inconsistent with theprovisions of this chapter, that are applicable to the practice of thatprofession in the corporate form.

C. Any individual or group of individuals described in clause (i) or (ii) ofsubsection A may become a member or members of a professional corporationorganized as a nonstock corporation under the provisions of Chapter 10 (13.1-801 et seq.) of this title for the sole and specific purpose ofrendering such professional services, subject to any laws, not inconsistentwith the provisions of this chapter, that are applicable to the practice ofthat profession in the corporate form.

(1970, c. 77; 1981, c. 58; 1989, c. 665; 1994, c. 349; 2000, c. 763; 2006,cc. 672, 715.)