The income of a physical therapy corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined in Section 13401 of the Corporations Code, shall not in any manner accrue to the benefit of such shareholder or his or her shares in the physical therapy corporation.
Cal. Bus. & Prof. Code § 2695
Physical Therapy Corporations
Known as the Physical Therapy Practice Act
The act spans §§ 2600–2696 (87 sections).
Repealed and added by Stats. 1980, Ch. 1314, Sec. 10.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.