Bill Summary for H 832 (2011-2012)

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Summary date: 

Apr 8 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 832 (Public) Filed Wednesday, April 6, 2011
TO ALLOW NONATTORNEY OWNERSHIP OF PROFESSIONAL CORPORATION LAW FIRMS, SUBJECT TO CERTAIN REQUIREMENTS.
Intro. by Brubaker, McComas.

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Bill summary

Identical to S 254, filed 3/8/11.

Enacts new subsection (a2) to GS 55B-6 to allow any person to own up to 49% of the stock of a professional corporation providing legal services under GS Chapter 84 (regulating attorneys), provided five enumerated criteria are met, including the requirement that licensees own and control voting stock representing at least 51% of the votes entitled to be cast in the director election for the professional corporation. Makes other technical and conforming changes. Effective October 1, 2011.