California CodesBusiness and Professions Code - BPCDivision 2 — Healing ArtsChapter 6.6 — PsychologistsArticle 9 — Psychological CorporationsSection 2999
The board may adopt and enforce regulations to carry out the purposes and objectives of this article, including regulations requiring (a) that the bylaws of a psychological corporation shall include a provision whereby the capital stock of that corporation owned by a disqualified person, as defined in Section 13401 of the Corporations Code, or a deceased person, shall be sold to the corporation or to the remaining shareholders of that corporation within any time as those regulations may provide, and (b) that a psychological corporation shall provide adequate security by insurance or otherwise for claims against it by its patients or clients arising out of the rendering of professional services.
Notes
Allows the board to adopt and enforce regulations for psychological corporations, including requiring bylaws to provide for stock owned by a disqualified or deceased person to be sold to the corporation or remaining shareholders within a regulatory period. Allows regulations requiring adequate insurance or other security for patient or client claims arising from professional services.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 2999 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-2/chapter-6-6/article-9/section-2999