(a) Every professional corporation, domestic or foreign, is required to file an annual report under the Alabama Business Corporation Law, and shall include in the annual report, in addition to the items required by the Alabama Business Corporation Law:
(1) A statement that all the shareholders, at least one director, and the president of the corporation are qualified persons with respect to the corporation, and
(2) In the case of a foreign professional corporation, the name or names of the Alabama licensed professional or professionals through whom the foreign professional corporation will render professional services in Alabama.
(b) Financial information contained in the annual report of a professional corporation, other than the amount of stated capital of the corporation, shall not be open to public inspection nor shall the licensing authority disclose any facts or information obtained therefrom except insofar as its official duty may require the same to be made public or in the event the information is required for evidence in any criminal proceedings or in any other action by the State of Alabama.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 4 - Professional Corporations.
Section 10A-4-5.01 - Involuntary Dissolution on Petition of Attorney General.
Section 10A-4-5.02 - Admission of Foreign Professional Corporations.
Section 10A-4-5.03 - Revocation of Certificate of Authority.
Section 10A-4-5.04 - Annual Report of Domestic and Foreign Professional Corporations.
Section 10A-4-5.05 - Interrogatories by Licensing Authority; Generally
Section 10A-4-5.07 - Chapter Does Not Restrict Regulation by Licensing Authority.