California CodesBusiness and Professions Code - BPCDivision 3 — Professions and Vocations GenerallyChapter 13 — Shorthand ReportersArticle 5 — Shorthand Reporting CorporationsSection 8045
The income of a shorthand reporting corporation attributable to professional services rendered while a shareholder is a disqualified person, as defined by Section 13401 of the Corporations Code, shall not in any manner accrue to the benefit of such shareholder for his shares in the shorthand reporting corporation.
Notes
Prohibits income of a shorthand reporting corporation attributable to professional services rendered while a shareholder is a statutorily defined disqualified person from accruing in any manner to that shareholder’s benefit for the shareholder’s shares. The restriction applies specifically to income attributable to services rendered during the shareholder’s period of disqualification.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 8045 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-13/article-5/section-8045