PROFESSIONAL SERVICE CORPORATION ACT (EXCERPT)
Act 192 of 1962
450.222 Definitions.
Sec. 2.
As used in this act:
(a) “Licensed person” means an individual who is duly licensed or otherwise legally authorized to practice a professional service by a court, department, board, commission, an agency of this state or another jurisdiction, or any corporation all of whose shareholders are licensed persons.
(b) “Professional corporation” means a corporation that is organized under this act for the sole and specific purpose of rendering 1 or more professional services and has as its shareholders only licensed persons, the personal representatives or estates of individuals, or other persons as provided in section 10.
(c) “Professional service” means a type of personal service to the public that requires as a condition precedent to the rendering of the service the obtaining of a license or other legal authorization. Professional service includes, but is not limited to, services rendered by certified or other public accountants, chiropractors, dentists, optometrists, veterinarians, osteopaths, physicians and surgeons, doctors of medicine, doctors of dentistry, podiatrists, chiropodists, architects, professional engineers, land surveyors, and attorneys at law.
History: 1962, Act 192, Eff. Mar. 28, 1963
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Am. 1963, Act 153, Eff. Sept. 6, 1963
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Am. 1980, Act 216, Imd. Eff. July 18, 1980
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Am. 1990, Act 166, Imd. Eff. July 2, 1990
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Am. 1998, Act 48, Imd. Eff. Mar. 30, 1998
© 2009 Legislative Council, State of Michigan