In this chapter: (1) 'Disqualified person' means an individual or entity that for any reason is or becomes ineligible under this chapter to be issued shares by a professional corporation. (2) 'Domestic professional corporation' means a professional corporation. (3) 'Foreign professional corporation' means a corporation or association for profit incorporated for the purpose of rendering professional services under a law other than the law of this state. (4) 'Law' includes rules promulgated in accordance with Section 33-19-630. (5) 'Licensing authority' means the officer, board, agency, court, or other authority in this state empowered to license or otherwise authorize the rendition of a professional service. (6) 'Professional corporation' means a corporation for profit, other than a foreign professional corporation, subject to the provisions of this chapter. (7) 'Professional service' means a service that may be rendered lawfully only by a person licensed or otherwise authorized by a licensing authority in this State to render the service and that may not be lawfully rendered by a corporation under chapters 1 through 17 of this title. person licensed or otherwise authorized by a licensing authority in this State to render the service and that may not be lawfully rendered by a corporation under chapters 1 through 17 of this title. (8) 'Qualified person' means an individual, general partnership, or professional corporation that is eligible under this chapter to be issued shares by a professional corporation. HISTORY: Derived from 1976 Code Section 33-51-20 [1962 Code Section 56-1602; 1962 (52) 1911; Repealed, 1988 Act No. 444, Section 4(5)]; 1988 Act No. 444, Section 2.
South Carolina Legal Code