14A:17-6. Directors and officers
102 words·~1 min read·
/nj/title-14a/chapter-17/14a-17-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A professional corporation which has only one shareholder need have only one director who shall be such shareholder. Such one shareholder shall also serve as the president of the corporation. The other officers of the corporation in such a case need not be licensed or otherwise legally authorized to render the same professional service within this State, as such one shareholder. A professional corporation which has only 2 shareholders need have only 2 directors who shall be such shareholders. The 2 shareholders shall, between them, fill all the officerships of the professional corporation.
L.1969, c. 232, s. 6, eff. Dec. 16, 1969.