13.1-549 - Qualifications of shareholders; special provisions for corporations rendering services of architects, professional engineers, landscape architects and land surveyors, and using the title of - Virginia Statutes

§ 13.1-549. Qualifications of shareholders; special provisions forcorporations rendering services of architects, professional engineers,landscape architects and land surveyors, and using the title of certifiedinterior designers.

A. A corporation rendering the services of architects, professionalengineers, land surveyors, or landscape architects, or using the title ofcertified interior designers, or any combination thereof, shall issue notless than two-thirds of its shares to individuals or professional businessentities duly licensed to render the services of architect, professionalengineer, land surveyor, or landscape architect, or to individuals legallyauthorized to use the title of certified interior designer, and the remainderof said shares may be issued only to and held by individuals who areemployees of the corporation whether or not such employees are licensed torender professional services or authorized to use a title. For a corporationusing the title of certified interior designers and providing the services ofarchitects, professional engineers or land surveyors, or any combinationthereof, not less than two-thirds of its shares shall be held by individualsor professional business entities who are duly licensed. No otherprofessional corporation, except for a corporation engaged in the practice ofaccounting as described in § 13.1-549.1, may issue any of its shares toanyone other than an individual or professional business entity who is dulylicensed or otherwise legally authorized to render the same specificprofessional services as those for which the corporation was incorporated,including trustees of an eligible employee stock ownership plan.Notwithstanding the above limitations, a professional corporation may (i)issue its shares to a partnership each of the partners of which is dulylicensed or otherwise legally authorized to render the same professionalservices as those for which the corporation was incorporated or (ii) issueany of its shares to, and have as shareholders, directly or indirectly,whether through shares, fractional shares, or rights or options to purchaseshares, the trustees of an eligible employee stock ownership plan.

B. As an additional prerequisite for a corporation engaging in the practiceof the professions of architecture, professional engineering, land surveying,or landscape architecture, or using the title of certified interior designer,or any combination thereof, such corporation shall secure a certificate ofauthority, which may be renewable and may be either general or limited, fromthe Board for Architects, Professional Engineers, Land Surveyors, CertifiedInterior Designers and Landscape Architects. Such certificate of authorityshall be issued or renewed by the Board when in its discretion suchcorporation is in compliance with rules and regulations which shall bepromulgated by the said Board consistent with its jurisdiction to provideadequate safeguards for the public's health, welfare and safety. The fees fora certificate of authority as described above shall be the same fees asprovided for in Chapter 4 (§ 54.1-400 et seq.) of Title 54.1.

(1970, c. 77; 1972, c. 655; 1980, c. 757; 1998, c. 27; 2000, cc. 191, 763;2006, cc. 672, 715; 2008, c. 265; 2009, c. 309.)