(a) General rule.--This chapter shall be applicable to a business corporation, other than a management corporation, that:
(1) on the effective date of this chapter was subject to the act of July 9, 1970 (P.L.461, No.160), known as the Professional Corporation Law; or
(2) elects to become a professional corporation in the manner provided by this chapter.
(b) Application to business corporations generally.--The existence of a provision of this chapter shall not of itself create any implication that a contrary or different rule of law is or would be applicable to a business corporation that is not a professional corporation, and this chapter shall not affect any statute or rule of law that is or would be applicable to a business corporation that is not a professional corporation. This chapter shall not alter or affect any right or privilege existing under any statute or general rule heretofore or hereafter enacted by the General Assembly or (with respect to attorneys at law) prescribed by the Supreme Court of Pennsylvania:
(1) not prohibiting; or
(2) in terms permitting;
performance of professional services in corporate form by a corporation that is not a professional corporation.
(c) Laws applicable to professional corporations.--Except as otherwise provided in this chapter, Part I (relating to preliminary provisions) and this subpart shall be generally applicable to all professional corporations. The specific provisions of this chapter shall control over the general provisions of Part I and this subpart. Except as otherwise provided in this article, a professional corporation may be simultaneously subject to this chapter and one or more other chapters of this article.
(Oct. 22, 2014, P.L.2640, No.172, eff. July 1, 2015)
2014 Amendment. Act 172 amended subsec. (c).
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 29 - Professional Corporations
Section 2901 - Application and effect of chapter
Section 2902 - Definitions and index of definitions
Section 2903 - Formation of professional corporations
Section 2904 - Election of an existing business corporation to become a professional corporation
Section 2905 - Election of professional associations to become professional corporations
Section 2906 - Termination of professional corporation status
Section 2907 - Proceedings to terminate breach of qualifying conditions
Section 2922 - Stated purposes
Section 2923 - Issuance and retention of shares