California Codes, Business and Professions Code - BPC, Division 2 — Healing Arts, Chapter 13 — Licensed Marriage and Family Therapists, Article 6 — Marriage and Family Therapy Corporations, Section 4988
The income of a marriage and family therapy 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 that shareholder or his or her shares in the marriage and family therapy corporation.
Notes
Prohibits income of a marriage and family therapy 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 disqualification.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 4988 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-2/chapter-13/article-6/section-4988