SECTIONS 4150-4156 - California Statutes

BUSINESS AND PROFESSIONS CODE

SECTION 4150-4156

4150. (a) A pharmacy corporation means a corporation that is
authorized to render professional services, as defined in Section
13401 of the Corporations Code, so long as that corporation and its
shareholders, officers, directors, and employees rendering
professional services who are pharmacists are in compliance with the
Moscone-Knox Professional Corporation Act, this article, and all
other statutes and regulations now or hereafter enacted or adopted
pertaining to the corporation and the conduct of its affairs.
(b) With respect to a pharmacy corporation, the governmental
agency referred to in the Moscone-Knox Professional Corporation Act
is the Board of Pharmacy of the State of California.

4151. Each shareholder, director, and officer of a pharmacy
corporation, except an assistant secretary and an assistant
treasurer, shall be a licensed person as defined in Section 13401 of
the Corporations Code.

4152. The name of a pharmacy corporation and any name or names
under which it may render professional services shall contain the
word "pharmacist," "pharmacy," or "pharmaceutical" and wording or
abbreviations denoting corporate existence.

4153. The income of a pharmacy corporation attributable to
professional services rendered while a shareholder is a disqualified
person, as defined in Section 13401 of the Corporations Code, shall
not in any manner accrue to the benefit of the shareholder or his or
her shares in the pharmacy corporation.

4154. The board may adopt and enforce regulations to carry out the
purposes and objectives of this article, including regulations
requiring (a) that the bylaws of a pharmacy corporation shall include
a provision whereby the capital stock of the corporation owned by a
disqualified person, as defined in Section 13401 of the Corporations
Code, or a deceased person, shall be sold to the corporation or to
the remaining shareholders of the corporation within the time as the
regulations may provide, and (b) that a pharmacy corporation shall
provide adequate security by insurance or otherwise for claims
against it by its patients or clients arising out of the rendering of
professional services.

4155. Nothing in this article shall be construed as requiring the
applicant or holder of a pharmacy permit pursuant to Section 4110 to
be a pharmacy corporation.

4156. A pharmacy corporation shall not do, or fail to do, any act
where doing or failing to do the act would constitute unprofessional
conduct under any statute or regulation. In the conduct of its
practice, a pharmacy corporation shall observe and be bound by the
laws and regulations that apply to a person licensed under this
chapter.