15 Pa. C.S. § 2922

Current through 2024 legislation effective May 8, 2024
Section 2922 - Stated purposes
(a) General rule.--A professional corporation shall not engage in any business other than the rendering of the professional service or services for which it was specifically incorporated except that a professional corporation may own real and personal property necessary for, or appropriate or desirable in, the fulfillment or rendering of its specific professional service or services and it may invest its funds in real estate, mortgages, stocks, bonds or any other type of investment.
(b) Additional powers.--A professional corporation may be an equity owner of a partnership, limited liability company, corporation or other association engaged in the business of rendering the professional service or services for which the professional corporation was incorporated.

15 Pa.C.S. § 2922

1988, Dec. 21, P.L. 1444, No. 177, § 103, effective 10/1/1989. Amended 2001, June 22, P.L. 418, No. 34, § 2, effective in 60 days.