(a) Authority - Chapter 55B of the General Statutes of
(b) Statutory Law - These regulations only supplement the basic statutory law governing professional corporations (Chapter 55B) and professional limited liability companies (Chapter 57C) and shall be interpreted in harmony with those statutes and with other statutes and laws governing corporations and limited liability companies generally.
(c) Definitions - All terms used in these regulations shall have the meanings set forth below or shall be as defined in the Professional Corporation Act or the North Carolina Limited Liability Company Act as appropriate.
(1) "Council" shall mean the Council of the North Carolina State Bar.
(2) "Licensee" shall mean any natural person who is duly licensed to practice law in
(3) "Professional limited liability company or companies" shall mean any professional limited liability company or companies organized for the purpose of practicing law in
(4) "Professional corporations" shall mean any professional corporation or corporations organized for the purpose of practicing law in
(5) "Secretary" shall mean the secretary of the North Carolina State Bar.
History Note: Statutory Authority G.S. 84-23
Readopted Effective December 8, 1994