Statutes authorizing the formation of professional corporations usually require that share ownership be limited to: ________.

Question

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Statutes authorizing the formation of professional corporations usually require that share ownership be limited to duly licensed professionals. This means that only those who hold the appropriate license required for the particular profession (e.g. doctors, lawyers, accountants) can become shareholders in a professional corporation. The other choices, such as residents of the same state, attorneys with malpractice insurance, or professionals without a malpractice history, are not generally prerequisites for share ownership in a professional corporation.

Statutes Authorizing the Formation of Professional Corporations Usually Require That