California CodesBusiness and Professions Code - BPCDivision 2 — Healing ArtsChapter 9 — PharmacyArticle 10 — Pharmacy CorporationsSection 4154
The board may adopt and enforce regulations to carry out the purposes and objectives of this article, including regulations requiring (a) that the bylaws of a pharmacy corporation shall include a provision whereby the capital stock of the corporation owned by a disqualified person, as defined in Section 13401 of the Corporations Code, or a deceased person, shall be sold to the corporation or to the remaining shareholders of the corporation within the time as the regulations may provide, and (b) that a pharmacy corporation shall provide adequate security by insurance or otherwise for claims against it by its patients or clients arising out of the rendering of professional services.
Notes
Allows the board to regulate pharmacy corporations, including by requiring bylaws to compel sale of stock owned by a disqualified or deceased person to the corporation or remaining shareholders within a period set by regulation. The board may also require adequate insurance or other security for patient or client claims arising from professional services.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 4154 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-2/chapter-9/article-10/section-4154