§ 817 - Definitions - Vermont Statutes

§ 817. Definitions

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 incorporated under the laws of this state.

(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) "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.

(5) "Professional corporation" means a corporation for profit, other than a foreign professional corporation, subject to the provisions of this chapter.

(6) "Professional service" means a service that may be lawfully rendered only by a person licensed or otherwise authorized by a licensing authority in this state to render the service, and may not be lawfully rendered by a corporation under Title 11A.

(7) "Qualified person" means an individual or general partnership that is eligible under this chapter to be issued shares by a professional corporation. (Added 2001, No. 77 (Adj. Sess.), § 1.)