Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

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The Pennsylvania Code website reflects the Pennsylvania Code changes effective through 52 Pa.B. 1354 (February 26, 2022).

19 Pa. Code § 33.2. Incorporators.

§ 33.2. Incorporators.

 (a)  One or more corporations or natural persons of full age may incorporate a professional corporation.

 (b)  Section 2923(a) of the BCL (relating to issuance and retention of shares) provides that shares of a professional corporation may be beneficially owned, directly or indirectly, only by one or more licensed persons. Therefore, only a person licensed to practice the profession for which a professional corporation is incorporated may be an incorporator of a professional corporation if the incorporator subscribes to one or more shares of the corporation. See §  23.7 (relating to subscription by incorporator unnecessary).

 (c)  Section 2901(a) of the BCL (relating to application and effect of chapter) provides that a business corporation may not be simultaneously a professional corporation and a management corporation. A professional corporation may be one or more of the following:

   (1)  A nonstock corporation.

   (2)  A statutory close corporation.

   (3)  A professional corporation.

   (4)  An insurance corporation.

Source

   The provisions of this §  33.2 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.



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