Effective - 28 Aug 1986
356.061. Powers. — 1. A professional corporation shall have the powers enumerated in the general business and corporation law of Missouri, chapter 351; except that, a professional corporation may:
(1) Invest its funds in real estate, mortgages, stocks, bonds or any other type of investment, but only so long as that investment does not violate or is not inconsistent with subsection 2 of this section; and
(2) Be a promoter, general partner, stockholder, member, associate or manager only of a partnership, joint venture, professional corporation, foreign professional corporation, trust or other enterprise that is engaged only in:
(a) Rendering a professional service that is authorized to practice under its articles of incorporation; or
(b) Carrying on business permitted by the articles of incorporation of the professional corporation or in providing services ancillary thereto.
2. A professional corporation shall not engage in any profession or business other than the professions or businesses permitted by its articles of incorporation.
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(L. 1986 H.B. 1230)
Structure Missouri Revised Statutes
Title XXIII - Corporations, Associations and Partnerships
Chapter 356 - Professional Corporations
Section 356.011 - Citation of law.
Section 356.021 - Definitions.
Section 356.031 - General and business corporation law applicable — exceptions.
Section 356.071 - Regulating name of corporation.
Section 356.081 - Corporation may render professional services, how.
Section 356.091 - Directors and officers, who may be.
Section 356.101 - Corporation may purchase own shares, when.
Section 356.111 - Shares, who may hold, transferred how.
Section 356.121 - Proxies and voting trusts, valid when.
Section 356.131 - Securities law not applicable, exception.
Section 356.141 - Disqualifying event, corporation may purchase its own shares, procedure.
Section 356.151 - Disqualifying event, effect.
Section 356.161 - Rights and obligations of unqualified persons acquiring shares by foreclosure.
Section 356.171 - Liability for negligent or wrongful acts or omissions.
Section 356.181 - Privileged communications.
Section 356.191 - Law not to be construed to restrict licensing authorities — additional rules.
Section 356.221 - Merger or consolidation with another corporation, when.
Section 356.233 - Additional fee — expiration date.
Section 356.251 - Forfeiture of corporate rights, when — duties of licensing authority.