California CodesBusiness and Professions Code - BPCDivision 2 — Healing ArtsChapter 12 — AcupunctureArticle 7 — Acupuncture CorporationsSection 4977.1
The income of an acupuncture 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 acupuncture corporation.
Notes
Prohibits income of an acupuncture 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 targets income tied to services rendered during the shareholder’s period of disqualification.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 4977.1 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-2/chapter-12/article-7/section-4977-1