450.1283 Professional corporation; formation; name.
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450.1283 Professional corporation; formation; name.
Sec. 283.
(1)Except as provided in this section, 1 or more licensed persons may form a professional corporation under this chapter.
(2)Except as otherwise permitted under section 284(5) or section 288(2), each shareholder of a professional corporation must be 1 of the following:
(a)A licensed person in 1 or more of the professional services provided by the professional corporation.
(b)An entity that is directly or beneficially owned only by persons that are licensed persons in 1 or more of the professional services provided by the professional corporation.
(3)Except as provided in this section or otherwise prohibited, the articles of incorporation of a professional corporation shall state that the professional corporation is formed to provide 1 or more professional services and shall state the specific professional service or services the professional corporation is formed to provide.
(4)The name of a professional corporation shall contain the words "professional corporation" or the abbreviation "P.C." with or without periods or other punctuation.
History: Add. 2012, Act 569 , Imd. Eff. Jan. 2, 2013 ;-- Am. 2018, Act 85 , Eff. June 24, 2018