N.Y. Business Corporation Law 1513 – Business corporation law applicable
§ 1513. Business corporation law applicable.
Terms Used In N.Y. Business Corporation Law 1513
- 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.
- Design professional: means an individual licensed and registered pursuant to title eight of the education law to practice professional engineering, architecture, landscape architecture, geology or land surveying. See N.Y. Business Corporation Law 1501
- Design professional service corporation: means a corporation organized under this article practicing professional engineering, architecture, landscape architecture, geology, or land surveying, or practicing any combination of such professions. See N.Y. Business Corporation Law 1501
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Profession: includes any practice as an attorney and counselor-at-law, or as a licensed physician, and those occupations designated in title eight of the education law. See N.Y. Business Corporation Law 1501
- Professional service: means any type of service to the public which may be lawfully rendered by a member of a profession within the purview of his or her profession. See N.Y. Business Corporation Law 1501
- Professional service corporation: means a corporation organized under this article. See N.Y. Business Corporation Law 1501
This chapter, except article 13 and article 15-A, shall be applicable to a professional service corporation, including a design professional service corporation, except to the extent that the provisions thereof conflict with this article. A professional service corporation, including a design professional service corporation, may consolidate or merge only with another corporation organized under this article or authorized to do business in this state under article 15-A of this chapter or authorized and registered to practice the same profession, or in the case of a design professional service corporation one or more professions as provided in paragraph (e) of section 1501 of this article, pursuant to the applicable provisions of subdivision six of § 7209 of the education law, subdivision four of § 7307 of the education law or subdivision four of § 7327 of the education law, or may be a member of a professional service limited liability company, a foreign professional service limited liability company, a registered limited liability partnership or foreign limited liability partnership, and only if all of the professions practiced by such corporations, limited liability companies or limited liability partnerships could be practiced by a single corporation organized under this article.