§ 55B-1 – Title.

55B-1. Title. This Chapter may be cited as "The Professional Corporation Act." (1969, c. 718, s. 1.)

§ 55B-10 – Registration with licensing board.

55B-10. Registration with licensing board. No professional corporation shall open, operate, or maintain an establishment for any of the purposes set forth in this Chapter without first having obtained a certificate of registration from the licensing board or boards. Applications for such registration shall be made to the licensing board or boards in writing and […]

§ 55B-11 – Renewal of certificate of registration.

55B-11. Renewal of certificate of registration. Upon written application of the holder, accompanied by a fee not to exceed the sum of twenty-five dollars ($25.00), the licensing board shall renew the certificate of registration of a professional corporation as required by law or the regulations of the licensing board if the board finds that the […]

§ 55B-12 – Application of regulations of licensing boards.

55B-12. Application of regulations of licensing boards. (a) A professional corporation shall be subject to the applicable rules and regulations adopted by, and all the disciplinary powers of, the licensing board as herein defined. Nothing in this Chapter shall impair the disciplinary powers of any licensing board applicable to a licensee as herein defined. No […]

§ 55B-13 – Suspension or revocation of certificate of registration.

55B-13. Suspension or revocation of certificate of registration. A licensing board may suspend or revoke a certificate of registration issued by it to a domestic or foreign professional corporation for any of the following reasons: (1) Upon the failure of such corporation to promptly remove or discharge an officer, director, shareholder or employee who becomes […]

§ 55B-14 – Types of professional services.

55B-14. Types of professional services. (a) A professional corporation shall render only one specific type professional service, and such services as may be ancillary thereto, and shall not engage in any other business or profession; provided, however, such corporation may own real and personal property necessary or appropriate for rendering the type of professional services […]

§ 55B-15 – Applicability of Chapter.

55B-15. Applicability of Chapter. (a) This Chapter shall not apply to the following: (1) A corporation which prior to June 5, 1969, was permitted by law to render professional services or the corporate successor of that corporation by merger or otherwise by operation of law, provided there is no substantial change in the direct or […]

§ 55B-16 – Foreign professional corporations.

55B-16. Foreign professional corporations. (a) A foreign professional corporation may apply for a certificate of authority to transact business in this State pursuant to the provisions of this Chapter and Chapter 55 of the General Statutes provided that: (1) The corporation obtains a certificate of registration from the appropriate licensing board or boards in this […]

§ 55B-2 – Definitions.

55B-2. Definitions. As used in this Chapter, the following words shall, unless the context requires otherwise, have the following meanings: (1) "Disqualified person" means a licensed person who for any reason becomes legally disqualified to render the same professional services which are or were being rendered by the professional corporation of which such person is […]

§ 55B-3 – North Carolina Business Corporation Act applicable; other applicable law.

55B-3. North Carolina Business Corporation Act applicable; other applicable law. (a) Chapter 55 of the General Statutes, the North Carolina Business Corporation Act, applies to professional corporations, including their organization, and professional corporations shall enjoy the powers and privileges and shall be subject to the duties, restrictions and liabilities of other corporations, except insofar as […]

§ 55B-4 – Formation of corporation.

55B-4. Formation of corporation. A professional corporation under this Chapter may be formed pursuant to the provisions of Chapter 55, the North Carolina Business Corporation Act, with the following limitations: (1) At least one incorporator shall be a "licensee" as hereinabove defined in G.S. 55B-2(2). (2) All of the shares of stock of the corporation […]

§ 55B-5 – Corporate name.

55B-5. Corporate name. The corporate name used by professional corporations under this Chapter, except as limited by the licensing acts of the respective professions, shall be governed by the provisions of Chapter 55D, provided that professional corporations may use the words "Professional Association, P.A.," "Professional Corporation," or "P.C." in lieu of the corporate designations specified […]

§ 55B-6 – Capital stock.

55B-6. Capital stock. (a) Except as provided in subsections (a1) and (b) of this section, a professional corporation may issue shares of its capital stock only to a licensee as defined in G.S. 55B-2, and a shareholder may voluntarily transfer shares of stock issued to the shareholder only to another licensee. No share or shares […]

§ 55B-7 – Death or disqualification of a stockholder or employee.

55B-7. Death or disqualification of a stockholder or employee. (a) If any officer, shareholder, agent or employee of a corporation organized under this Chapter who is a licensee becomes legally disqualified to render professional services within this State, he shall sever all employment with, and financial interest in, such corporation forthwith. A corporation’s failure to […]

§ 55B-8 – Rendition of professional services.

55B-8. Rendition of professional services. A professional service corporation may render professional services only through its officers, employees and agents who are duly licensed to render such professional services; provided, however, this provision shall not be interpreted to include in the term "employee," as used herein, clerks, secretaries, bookkeepers, technicians and other assistants who are […]

§ 55B-9 – Professional relationship and liability.

55B-9. Professional relationship and liability. (a) Relationship. – Nothing in this Chapter shall be interpreted to abolish, modify, restrict, limit or alter the law in this State applicable to the professional relationship and liabilities between the licensee furnishing the professional services and the person receiving such professional service, or the standards of professional conduct applicable […]