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Terms Used In Illinois Compiled Statutes 225 ILCS 55/75

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
     No business organization shall provide, attempt to provide, or offer to provide marriage and family therapy services unless every member, partner, shareholder, director, officer, holder of any other ownership interest, agent, and employee who renders marriage and family therapy services holds a currently valid license issued under this Act. No business shall be created that (1) has a stated purpose that includes marriage and family therapy, or (2) practices or holds itself out as available to practice marriage and family therapy, unless it is organized under the Professional Service Corporation Act or Professional Limited Liability Company Act. Nothing in this Act shall preclude individuals licensed under this Act from practicing directly or indirectly for a physician licensed to practice medicine in all its branches under the Medical Practice Act of 1987 or for any legal entity as provided under subsection (c) of Section 22.2 of the Medical Practice Act of 1987.