A professional association may be organized only for the purpose of rendering one specific kind of professional service and shall not engage in any business other than rendering the professional service for which it was organized. However, it may invest its funds in real estate, mortgages, stocks, bonds, or any other type of investment and may own real or personal property necessary or appropriate for rendering its professional service.
History. Ga. L. 1961, p. 404, § 5.
Structure Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 10 - Professional Associations
§ 14-10-9. Continuity of Existence Independent of Status or Acts of Members
§ 14-10-14. Limitation on Sale or Transfer of Membership or Shares
§ 14-10-15. Distribution of Assets Following Dissolution
§ 14-10-16. Powers Generally; Assets Not Liable to Attachment for Debts of Members or Shareholders
§ 14-10-17. Actions by or Against Associations
§ 14-10-18. Applicability of Corporation Laws; Inapplicability of Partnership Laws