No corporation organized under this chapter shall engage in any business other than the rendering of the professional services for which it was specifically incorporated; provided, however, nothing in this chapter or in any other provisions of existing law applicable to corporations shall be interpreted to prohibit such corporation from investing its funds in real estate, mortgages, stocks, bonds or any other type of investments, from owning real or personal property, or from exercising any other investment power granted to corporations under this title and not in conflict with the provisions of this chapter.
1970, c. 77; 1975, c. 543.
Structure Code of Virginia
Chapter 7 - Professional Corporations
§ 13.1-542.1. Practice of certain professions by corporations
§ 13.1-544. Who may organize and become shareholder
§ 13.1-544.1. Use of initials "P.C." or "PC" in corporate name
§ 13.1-544.2. Certificate of authority for foreign professional corporations
§ 13.1-548. Corporation not to engage in other business; investment of funds
§ 13.1-549.1. Special provision for corporation engaged in practice of accounting
§ 13.1-549.2. Registration certificate required for corporation engaged in practice of law
§ 13.1-550. Transfer of shares
§ 13.1-551. Disqualification of shareholder
§ 13.1-553. Board of directors
§ 13.1-554.1. Income and property taxes
§ 13.1-556. Application of Chapter 9 or Chapter 10 of this title