(1) The corporate name may contain the names of one (1) or more of the shareholders.
(2) However, 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 shareholder may continue to be included in the corporate name for one (1) year following the decease of the shareholder.
(3) The corporate name shall end with the word “Chartered”, or the word “Limited”, or the abbreviation “Ltd.”, or the words “Professional Association”, or the abbreviation “P.A.”.