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(805 ILCS 10/3.4) (from Ch. 32, par. 415-3.4)
Sec. 3.4.
(a)
"Professional Corporation" means: (1) a corporation organized under this Act; (2) an entity converted under the Entity Omnibus Act |
| to a corporation governed by this Act; or
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(3) a foreign corporation domesticated under the
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| Entity Omnibus Act and governed by this Act;
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that is organized solely for the purpose of rendering one category of professional service or
related professional services and which has as its shareholders, directors,
officers, agents
and employees (other than ancillary personnel) only
individuals who are duly licensed by this State or by the United States
Patent Office or the Internal Revenue Service of the United States Treasury
Department to render that particular category of professional service or
related professional services (except that the secretary of the corporation
need not be so licensed), except that the registered agent of the corporation
need not be licensed in such case where the registered agent is not a
shareholder, director, officer or employee (other than ancillary
personnel).
(b) A Professional Corporation may, for purposes of dissolution, have as
its shareholders, directors, officers, agents and employees individuals who
are not licensed by this State, provided that the corporation does not
render any professional services nor hold itself out as capable of or
available to render any professional services during the period of dissolution.
The regulating authority shall not issue or renew any certificate of
authority to a Professional Corporation during the period of dissolution.
A copy of the certificate of dissolution, as issued by the Secretary of
State, shall be delivered to the regulating authority within 30 days of its
receipt by the incorporators.
(Source: P.A. 100-561, eff. 7-1-18.)
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