California · Business and Professions Code - BPC

BPC §2409: The income of a medical and podiatry corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined in Section 13401 of the Corporations Code, shal

What this law says, in plain English

Income earned by a medical or podiatry corporation from professional services while a shareholder is disqualified under Corporations Code Section 13401 is subject to specific treatment.

Read the full statutory text

The income of a medical and podiatry corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined in Section 13401 of the Corporations Code, shall not in any manner accrue to the benefit of such shareholder or his or her shares in such a professional corporation.

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