California Business and Professions Code

§ 2409

BPC § 2409Div. 2 · Ch. 5 · Art. 18

Statute text

The income of a medical and podiatry corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined in Section 13401 of the Corporations Code, shall not in any manner accrue to the benefit of such shareholder or his or her shares in such a professional corporation.

Legislative history

Added by Stats. 1980, Ch. 1314, Sec. 4.4.