Section 4. (a) Chapter 156D shall apply to professional corporations and which shall enjoy the powers and privileges, and be subject to the duties, restrictions and liabilities of corporations organized under said chapter, except where inconsistent with this chapter.
(b) A professional corporation may own real and personal property necessary or appropriate for rendering the professional service it was organized to render, and may invest its funds in real estate, mortgages, stocks, bonds, or any other type of investment.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 156a - Professional Corporations
Section 3 - Professional Services Provided
Section 4 - Applicable Provisions; Powers and Duties
Section 5 - Rendition of Professional Services; Construction of Chapter
Section 6 - Shareholder Liability; Professional Relationship; Privileged Communications
Section 7 - Organization; Content of Articles of Organization
Section 9 - Licensing of Directors and Officers
Section 10 - Issue or Transfer of Shares, or Rights or Options to Purchase
Section 11 - Proxies; Voting Trusts
Section 12 - Purchase or Redemption of Shares by Corporation; Contingencies; Time
Section 13 - Liquidation, Dissolution or Merger of Corporation
Section 14 - Merger Into or Consolidation With Business Corporation
Section 16 - Merger or Consolidation With Another Corporation
Section 17 - Foreign Professional Corporations; Registration