New Jersey § 14a:17-10
Full text of New Jersey New Jersey Statutes § 14a:17-10, with citation guidance and answers to common questions.
§ 14a:17-10.
(a) No professional corporation may issue any of its shares to anyone other than an individual
who is duly licensed or otherwise legally authorized to render the same professional
service as that for which the corporation was incorporated. No shareholder of a professional corporation shall enter into a voting trust agreement
or proxy or any other type of agreement vesting another person not a shareholder of
the corporation with the authority to exercise the voting power of any or all of his
shares. Subject to the provisions of the corporation's certificate of incorporation, the
estate of a deceased shareholder may continue to hold the shares of such shareholder
for a reasonable period of administration of the estate, but shall not be authorized
to participate in any decisions concerning the rendering of professional service. (b) A foreign professional legal corporation rendering legal services in this State
shall have at least one shareholder who is an attorney-at-law licensed and eligible
to practice in this State under the Rules of the Supreme Court.
Frequently Asked Questions About New Jersey § 14a:17-10
What does New Jersey Statutes § 14a:17-10 cover?
Section 14a:17-10 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 14a:17-10?
A common citation format is "New Jersey Statutes § 14a:17-10" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 14a:17-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.