California CodesBusiness and Professions Code - BPCDivision 2 — Healing ArtsChapter 13 — Licensed Marriage and Family TherapistsArticle 6 — Marriage and Family Therapy CorporationsSection 4988.2
The board may formulate and enforce rules and regulations to carry out the purposes and objectives of this article, including rules and regulations requiring (a) that the articles of incorporation or bylaws of a marriage and family therapy corporation shall include a provision whereby the capital stock of the corporation owned by a disqualified person (as defined in the Moscone-Knox Professional Corporation Act), or a deceased person, shall be sold to the corporation or to the remaining shareholders of the corporation within the time that rules and regulations may provide, and (b) that a marriage and family therapy corporation shall provide adequate security by insurance or otherwise for claims against it by its patients arising out of the rendering of professional services.
Notes
Allows the board to formulate and enforce regulations carrying out the marriage-and-family-therapy-corporation article, including requirements that stock owned by a disqualified or deceased person be sold to the corporation or remaining shareholders within a prescribed time. Allows rules requiring adequate insurance or other security for patient claims arising from professional services.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 4988.2 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-2/chapter-13/article-6/section-4988-2