Title 29 — Business Organizations. [Enacted title]
13 chapters · 915 sections in this title.
D.C. Code § 29-501 Short title
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This chapter may be cited as the “Professional Corporation Act of 2010”.
D.C. Code § 29-502 Definitions
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For the purposes of this chapter, the term: (1) “License” means license, certification, certificate, or registration, or other legal authorization required by law as a condition precedent to the rendering of professional service within the District. (2) “Professional corporation”…
D.C. Code § 29-503 Applicability
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This chapter shall not apply to any corporation now in existence or hereafter organized which may lawfully render professional services other than pursuant to this chapter. This chapter shall not alter or affect any existing or future right or privilege permitting or not prohibit…
D.C. Code § 29-504 Construction; applicability of Chapter 3 of this title to corporations organized under
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this (a) This chapter shall not repeal, modify, or restrict the laws relating to corporations, or regulating the professions covered by this chapter, unless these laws conflict with this chapter. (b) Except as otherwise provided in this chapter, Chapter 3 of this title shall appl…
D.C. Code § 29-505 Purpose for organization; powers authorized
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(a) A professional corporation may be organized solely to render professional services through its shareholders, directors, officers, employees, or agents who are themselves licensed to render the particular service, and to render service ancillary thereto. A professional corpora…
D.C. Code § 29-506 Incorporation
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One or more individuals may incorporate a professional corporation by delivering articles of incorporation for filing to the Mayor. The articles of incorporation shall meet the requirements of Chapter 3 of this title and shall set forth: (1) The designation of the professional se…
D.C. Code § 29-507 Number of directors
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A professional corporation shall have one or more directors, without regard to the number of shareholders.
D.C. Code § 29-508 Qualifications of shareholders, director, and officer
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(a) For the purposes of this section, the term “officer” means the chair of the board, president, vice-president, treasurer, or secretary. (b) A person shall not be a shareholder, director, or officer of a professional corporation or render professional services on its behalf unl…
D.C. Code § 29-509 Proxy prohibited
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A shareholder of a professional corporation shall not enter into a voting trust, proxy, or any other arrangement vesting another person, other than another shareholder of the same corporation, with the authority to exercise the voting power of any or all of his shares, and any su…
D.C. Code § 29-510 Professional relationship; liabilities
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(a) This chapter shall not alter or affect the professional relationship between an individual furnishing professional services and an individual receiving such service, either with respect to liability arising out of such professional service or the confidential relationship, if…
D.C. Code § 29-511 Transfer of shares
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(a) Shares in a professional corporation may be transferred only to an individual who is eligible under this chapter to be a shareholder of the corporation, or to the professional corporation, or may devolve by operation of law upon the personal representative or estate of a dece…
D.C. Code § 29-512 Merger or consolidation restricted
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(a) A professional corporation may merge or consolidate only with another domestic professional corporation or a domestic limited liability company and only if both entities are organized to render the same professional services, which, although not the same, could otherwise be r…
D.C. Code § 29-513 Disqualified professional
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If any individual rendering professional services on behalf of a professional corporation assumes a public office that prohibits his or her rendering of the professional services, or for any other reason is disqualified by law to render the professional services, the individual i…
D.C. Code § 29-514 Disposition of stock of disqualified, deceased, or legally incompetent shareholder
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(a) Subject to the limitations of this section, a disqualified shareholder and personal representatives, legatees, or heirs of a deceased or legally incompetent shareholder may continue to own shares of a professional corporation, but shall not participate in any decision concern…
D.C. Code § 29-515 Redemption price
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If the articles of incorporation, bylaws, or an agreement among the shareholders, does not fix the price at which the corporation or its shareholders may purchase the shares of a disqualified, deceased, legally incompetent, retired, or expelled shareholder, or does not provide a …
D.C. Code § 29-516 Perpetual duration; dissolution
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(a) A professional corporation shall have perpetual duration, except that whenever all shareholders of a professional corporation cease at any time for any reason to be licensed to perform the professional services for which the corporation was organized, the professional corpora…