§ 48-101-603. Part definitions.

TN Code § 48-101-603 (2019) (N/A)

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(1) “Disqualified person” means an individual or entity that for any reason is or becomes ineligible under this part to be issued shares by a professional corporation;

(2) “Domestic professional corporation” means a professional corporation;

(3) “Foreign professional corporation” means a corporation or association for profit incorporated for the purpose of rendering professional services under a law other than the law of this state;

(4) “Law” includes rules promulgated in accordance with § 48-101-630;

(5) “Licensing authority” means the officer, board, agency, court or other authority in this state empowered to license or otherwise authorize the rendition of a professional service;

(6) “Professional corporation” means a corporation for profit, other than a foreign professional corporation, subject to this part;

(7) “Professional service” means a service that may be lawfully rendered only by a person licensed or otherwise authorized by a licensing authority in this state to render the service, and that may not be lawfully rendered by a corporation under the Tennessee Business Corporation Act, compiled in chapters 11-27 of this title; and

(8) “Qualified person” means an individual, general partnership or professional corporation to whom shares under this part may be issued.

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