§ 804 - Purpose for which incorporated - Vermont Statutes

§ 804. Purpose for which incorporated

A professional corporation may be organized pursuant to the provisions of this chapter only for the purpose of rendering one specific type of professional service and services ancillary thereto and shall not engage in any other business than rendering the professional service which it was organized to render and services ancillary thereto; provided, however, that a professional corporation may own real and personal property necessary or appropriate for rendering the type of professional services which it was organized to render and may make such investment of its funds as is applicable for other corporations. (1963, No. 218, § 5, eff. July 3, 1963.)