A professional association may issue its capital stock only to persons who are duly licensed, certificated, or otherwise legally authorized to render within this state the same professional service as that for which the association was organized or, in the case of a combination of professional services described in division (B) of section 1785.01 of the Revised Code, to render within this state any of the applicable types of professional services for which the association was organized.
Ohio Rev. Code Ann. § 1785.05
Issuing capital stock
Applied in 1 court decision — leading case McGirr v. Rehme (2018)
Most recently applied in McGirr v. Rehme (May 2018)
Effective: April 10, 1998; Latest Legislation: Senate Bill 31 - 122nd General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.