Kentucky Statutes 274.005 – Definitions for chapter
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As used in this chapter, unless the context indicates otherwise:
(1) “Foreign professional service corporation” means a corporation for profit organized for the purpose of rendering professional services under a law other than the law of this state;
(2) “Professional service” means any type of personal service to the public which requires as a condition precedent to the rendering of such service the obtaining of a license or other legal authorization and which, prior to the passage of this chapter and by reason of law or a professional code of ethics, could not be performed by a corporation. The personal services which come within the provisions of this chapter are the personal services rendered by but not limited to certified public accountants, public accountants, chiropractors, osteopaths, physicians and surgeons, doctors of medicine, doctors of dentistry, podiatrists, chiropodists, architects, veterinarians, optometrists, and attorneys-at-law;
(3) “Professional service corporation” means a corporation organized under this chapter;
(4) “Qualified person” means a natural person, partnership, limited liability company, or professional service corporation which is eligible under this chapter to own shares issued by a professional service corporation; and
(5) “Regulating board” means the governmental agency which is charged by law with the licensing and regulation of the practice of the profession which the professional service corporation is organized to render.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 86, effective July 15, 2010.
— Amended 2007 Ky. Acts ch. 137, sec. 86, effective June 26, 2007. — Amended
2006 Ky. Acts ch. 149, sec. 230, effective July 12, 2006. — Amended 1998 Ky. Acts ch. 341, sec. 19, effective July 15, 1998. — Amended 1980 Ky. Acts ch. 288, sec. 9, effective July 15, 1980. — Created 1962 Ky. Acts ch. 236, sec. 1.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, “The specific textual provisions of Sections 1 to 178 of this Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.”
(1) “Foreign professional service corporation” means a corporation for profit organized for the purpose of rendering professional services under a law other than the law of this state;
Terms Used In Kentucky Statutes 274.005
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- 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.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) “Professional service” means any type of personal service to the public which requires as a condition precedent to the rendering of such service the obtaining of a license or other legal authorization and which, prior to the passage of this chapter and by reason of law or a professional code of ethics, could not be performed by a corporation. The personal services which come within the provisions of this chapter are the personal services rendered by but not limited to certified public accountants, public accountants, chiropractors, osteopaths, physicians and surgeons, doctors of medicine, doctors of dentistry, podiatrists, chiropodists, architects, veterinarians, optometrists, and attorneys-at-law;
(3) “Professional service corporation” means a corporation organized under this chapter;
(4) “Qualified person” means a natural person, partnership, limited liability company, or professional service corporation which is eligible under this chapter to own shares issued by a professional service corporation; and
(5) “Regulating board” means the governmental agency which is charged by law with the licensing and regulation of the practice of the profession which the professional service corporation is organized to render.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 86, effective July 15, 2010.
— Amended 2007 Ky. Acts ch. 137, sec. 86, effective June 26, 2007. — Amended
2006 Ky. Acts ch. 149, sec. 230, effective July 12, 2006. — Amended 1998 Ky. Acts ch. 341, sec. 19, effective July 15, 1998. — Amended 1980 Ky. Acts ch. 288, sec. 9, effective July 15, 1980. — Created 1962 Ky. Acts ch. 236, sec. 1.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, “The specific textual provisions of Sections 1 to 178 of this Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.”