California Corporations Code

§ 13401.5

CORP § 13401.5 Effective Jan 1, 2023Div. 3 · Title 1 · Part 4

Statute text

Notwithstanding subdivision (d) of Section 13401 and any other provision of law, the following licensed persons may be shareholders, officers, directors, or professional employees of the professional corporations designated in this section so long as the sum of all shares owned by those licensed persons does not exceed 49 percent of the total number of shares of the professional corporation so designated herein, and so long as the number of those licensed persons owning shares in the professional corporation so designated herein does not exceed the number of persons licensed by the governmental agency regulating the designated professional corporation. This section does not limit employment by a professional corporation designated in this section to only those licensed professionals listed under each subdivision. Any person duly licensed under Division 2 (commencing with Section 500) of the Business and Professions Code, the Chiropractic Act, or the Osteopathic Act may be employed to render professional services by a professional corporation designated in this section.

(a)Medical corporation.

(1)Licensed doctors of podiatric medicine.

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Legislative history

Amended by Stats. 2022, Ch. 290, Sec. 7. (AB 2671) Effective January 1, 2023.