2006 Code of Virginia § 13.1-549 - Qualifications of shareholders; special provisions for corporations rendering services of architect...

13.1-549. Qualifications of shareholders; special provisions forcorporations rendering services of architects, professional engineers andland surveyors, and using the title of certified landscape architects andcertified interior designers.

A. A corporation rendering the services of architects, professional engineersor land surveyors, or using the title of certified landscape architects orcertified interior designers, or any combination thereof, shall issue notless than two-thirds of its shares to individuals duly licensed to render theservices of architect, professional engineer or land surveyor, or toindividuals legally authorized to use the title of certified landscapearchitect or certified interior designer, and the remainder of said sharesmay be issued only to and held by individuals who are employees of thecorporation whether or not such employees are licensed to render professionalservices or authorized to use a title. For a corporation using the title ofcertified interior designers and providing the services of architects,professional engineers or land surveyors, or any combination thereof, notless than two-thirds of its shares shall be held by individuals who are dulylicensed. No other professional corporation, except for a corporation engagedin the practice of accounting as described in 13.1-549.1, may issue any ofits shares to anyone other than an individual who is duly licensed orotherwise legally authorized to render the same specific professionalservices as those for which the corporation was incorporated, includingtrustees of an eligible employee stock ownership plan. Notwithstanding theabove limitations, a professional corporation may (i) issue its shares to apartnership each of the partners of which is duly licensed or otherwiselegally authorized to render the same professional services as those forwhich the corporation was incorporated or (ii) issue any of its shares to,and have as shareholders, directly or indirectly, whether through shares,fractional shares, or rights or options to purchase shares, the trustees ofan eligible employee stock ownership plan.

B. As an additional prerequisite for a corporation engaging in the practiceof the professions of architecture, professional engineering or landsurveying, or using the title of certified landscape architect or certifiedinterior designer, or any combination thereof, such corporation shall securea certificate of authority, which may be renewable and may be either generalor limited, from the Board for Architects, Professional Engineers, LandSurveyors, Certified Interior Designers and Landscape Architects. Suchcertificate of authority shall be issued or renewed by the Board when in itsdiscretion such corporation is in compliance with rules and regulations whichshall be promulgated by the said Board consistent with its jurisdiction toprovide adequate safeguards for the public's health, welfare and safety. Thefees for a certificate of authority as described above shall be the same feesas provided for in Chapter 4 ( 54.1-400 et seq.) of Title 54.1.

(1970, c. 77; 1972, c. 655; 1980, c. 757; 1998, c. 27; 2000, cc. 191, 763;2006, cc. 672, 715.)