(1) (a) Except as provided in Subsection (1)(b), a person may not be an officer, director, or shareholder of a professional corporation unless that person is: (i) an individual licensed to render the same specific professional services as those for which the corporation is organized; or (ii) qualified to be an officer, director, or shareholder under the applicable licensing act for the profession for which the corporation is organized. (b) Notwithstanding Subsection (1)(a), a nonlicensed person may serve as secretary or treasurer of the professional corporation.
(a) Except as provided in Subsection (1)(b), a person may not be an officer, director, or shareholder of a professional corporation unless that person is: (i) an individual licensed to render the same specific professional services as those for which the corporation is organized; or (ii) qualified to be an officer, director, or shareholder under the applicable licensing act for the profession for which the corporation is organized.
(i) an individual licensed to render the same specific professional services as those for which the corporation is organized; or
(ii) qualified to be an officer, director, or shareholder under the applicable licensing act for the profession for which the corporation is organized.
(b) Notwithstanding Subsection (1)(a), a nonlicensed person may serve as secretary or treasurer of the professional corporation.
(2) For purposes of Subsection (1), professional services are considered the same specific professional services as those for which the corporation is organized if: (a) the corporation is organized to provide services described in: (i)Title 58, Chapter 67, Utah Medical Practice Act; or (ii)Title 58, Chapter 68, Utah Osteopathic Medical Practice Act; and (b) the officer, director, or shareholder is licensed under either of the chapters listed in Subsection (2)(a).
(a) the corporation is organized to provide services described in: (i)Title 58, Chapter 67, Utah Medical Practice Act; or (ii)Title 58, Chapter 68, Utah Osteopathic Medical Practice Act; and
(i)Title 58, Chapter 67, Utah Medical Practice Act; or
(ii)Title 58, Chapter 68, Utah Osteopathic Medical Practice Act; and
(b) the officer, director, or shareholder is licensed under either of the chapters listed in Subsection (2)(a).
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