California Codes, Business and Professions Code - BPC, Division 3 — Professions and Vocations Generally, Chapter 1 — Accountants, Article 9 — Accountancy Corporations, Section 5155
The income of an accountancy corporation attributable to professional services rendered while a shareholder is a disqualified person (as defined in the Moscone-Knox Professional Corporation Act) shall not in any manner accrue to the benefit of such shareholder or his shares in the accountancy corporation.
Notes
Prohibits income of an accountancy corporation attributable to professional services rendered while a shareholder is a statutorily defined disqualified person from accruing in any manner to that shareholder or the shareholder’s shares. The restriction applies specifically to income tied to services rendered during the shareholder’s period of disqualification.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 5155 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-1/article-9/section-5155