274.015 Professional service corporation authorized -- Articles of incorporation

283 words·~1 min read·/ky/274-015

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

requirements -- Authority -- Amendment of articles to become business

corporation.

(1)One

(1)or more individuals, each of whom is licensed to render the same

professional service or who are licensed to render related professional services such

that applicable licensing laws and regulations would not prohibit the practice of

such multiple professional services through a single business partnership, may

incorporate and form a professional service corporation by filing articles of

incorporation in the office of the Secretary of State. Such articles of incorporation

shall meet the requirements of KRS Chapter 271B, and in addition to the

information required by KRS 271B.2-020, such articles shall contain the following:

(a)The designation of the profession or professions to be practiced through the

professional service corporation;

(b)The names and residence addresses of all the original shareholders of the

professional service corporation; and

(c)A statement by the incorporator or incorporators that each of the

incorporators, shareholders, not less than one-half (1/2) of the directors, and

each of the officers other than secretary and treasurer is a qualified person

within the meaning of this chapter.

(2)A professional service corporation formed under the provisions of this chapter,

except as this chapter may otherwise provide, shall have the same powers, authority,

duties, and liabilities as a corporation formed under, and shall be otherwise

governed by, KRS Chapter 271B.

(3)A professional service corporation that has ceased to be utilized for rendering a

professional service may by amendment of its articles of incorporation delete those

provisions otherwise required by subsection

(1)of this section and adopt a name

conforming to KRS 271B.4-010, whereupon the corporation shall be governed

exclusively by KRS Chapter 271B and not this chapter.