415A-2 Definitions. As used in this chapter, unless the context otherwise requires, the term:

"Director" means the director of commerce and consumer affairs.

"Disqualified person" means any natural person, corporation, partnership, fiduciary, trust, association, government agency, or other entity which for any reason is or becomes ineligible under this chapter to own shares issued by a professional corporation.

"Licensing authority" means the officer, board, agency, court, or other authority in this State which has the power to issue a license or other legal authorization to render a professional service.

"Other entity" includes a domestic or foreign corporation, whether organized for profit or not, a domestic or foreign limited liability company, general partnership, limited partnership, or limited liability partnership.

"Professional corporation" means a domestic professional corporation for profit subject to this chapter.

"Professional service" means any service which lawfully may be rendered only by persons licensed under chapters 442, 448, 453, 455, 457, 459, 461, 463E, 465, 466, 471, and 605, and section 554-2.

"Qualified person" means an individual who is eligible under this chapter to own shares issued by a professional corporation. [L 1985, c 259, pt of 1; am L 1987, c 135, 106 and c 300, 2; am L 1989, c 81, 1; am L 1995, c 198, 5; am L 1996, c 13, 8; am L 1997, c 48, 1; am L 1999, c 280, 8; am L 2002, c 40, 42 and c 130, 73; am L 2009, c 11, 49]

 

 

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