Here, the jury>s finding that plaintiff was in material breach of the foundational rule for professional corporation
licensure--namely that it be controlled by licensed professionals--was enough to render plaintiff ineligible for reimbursement under 11 NYCRR 65-3.16 (a) (2).
have similar characteristics of a partnership or close corporation and their growth in members due to their success as an organization should not change the fact that all the shareholders are employed by the business and share in the profits equally [and] owe a duty to one another, which they should," Flavin said.
State laws generally restrict ownership of stock in professional corporations
to qualified professionals (as a condition of continued authorization to provide professional services).
Most firms are organized as partnerships or certain corporate forms, and are typically designated as professional corporations
or service corporations under state law.
The Department of Health and Human Services also may further amend the final regulations so that a relationship between a hospital and a solo practitioner's professional corporation
would be considered a "direct relationship" and not subject to all the restrictions on indirect compensation, Mr.
For many closely held companies, the LLC and LLP are attractive organizational alternatives to S corporations, general and limited partnerships and professional corporations
. Currently, 47 states and the District of Columbia permit the formation of LLCs, and the remaining states (Hawaii, Massachusetts and Vermont) are considering adopting laws that would authorize LLCs.
Although some consideration had been given to developing an independent professional corporation
owned by Humana and staffed by Humana physicians, the final model was based on a physician relationship that was, in effect, an "arm's-length" contract between the management company owned by Humana and the professional corporation
owned by the independent physician.
This depends on the type of business, the number of employees, and the form of business organization, i.e., individual, partnership, C corporation, S corporation, or professional corporation
Buchalter, a professional corporation
, Los Angeles, California, was legal counsel to Heritage.
Dovas Law, located at 307 Bainbridge Street in Philadelphia, was founded as a professional corporation
with a focus on intellectual property matters.
Plaintiff moves to vacate the stay of this action and to amend the summons and complaint, pursuant to CPLR [section] 203(b), to individually name the partners who formerly constituted the defendant professional corporation