California CodesBusiness and Professions Code - BPCDivision 2 — Healing ArtsChapter 6.6 — PsychologistsArticle 9 — Psychological CorporationsSection 2996.2
The income of a psychological 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 psychological corporation.
Notes
Prohibits income of a psychological corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined in the referenced Corporations Code provision, from accruing in any manner to that shareholder’s benefit or to the benefit of that shareholder’s shares in the corporation.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 2996.2 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-2/chapter-6-6/article-9/section-2996-2