(1) The corporate name shall contain either: The names of one (1) or more of the shareholders;
(2) The names of one (1) or more deceased former shareholders or deceased members of a predecessor organization; or
(3) Any combination of the names specified in subdivisions (a)(1) and (2) of this section.
(4) The name of a person who is not employed by the corporation shall not be included in the corporate name, except that the name of a deceased former shareholder or deceased member of a predecessor organization may continue to be included in the corporate name.
(5) The corporate name shall end with the word “Chartered”, or “Limited”, or the abbreviation “Ltd.”, or the words “Professional Association”, or the abbreviation “P.A.”.