SB 248

Bill Subjects

Abstract

The Moscone-Knox Professional Corporation Act provides for the formation of a corporation under the General Corporation Law for the purposes of qualifying as a professional corporation that is engaged in rendering professional services in a single profession, and permits a professional corporation to render professional services through persons who are licensed in that profession. Under the act, a medical corporation with more than 200 shareholders may provide that certain directors may have terms of office of up to 6 years. This bill would extend the maximum term of office of a medical corporation director, as described above, to 7 years. The bill also would make technical, nonsubstantive changes.