California CodesBusiness and Professions Code - BPCDivision 2 — Healing ArtsChapter 5.7 — Physical TherapyArticle 10 — Physical Therapy CorporationsSection 2695
The income of a physical therapy 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 physical therapy corporation.
Notes
Prohibits income of a physical therapy corporation attributable to professional services rendered while a shareholder is a disqualified person from accruing in any manner to that shareholder's benefit or to the benefit of the shareholder's shares. The restriction applies specifically to professional-service income earned during the shareholder's period of disqualification.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 2695 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-2/chapter-5-7/article-10/section-2695