In 1969, the North Carolina General Assembly enacted the Professional Corporation Act. This Act provides for corporations and limited liability companies to provide professional services subject to conditions and limitations of the Act, certain licensing statutes, and the North Carolina Administrative Code.
A Professional Corporation (“PC”) or a Professional Limited Liability Company (“PLLC”) must follow the organizational rules of the pertinent state licensing body, such as the North Carolina Medical Board, State Board of Certified Public Accountant Examiners, North Carolina Board of Landscape Architects, etc. Each of these licensing boards has its own set of rules and regulations that must be followed to the letter.
Once the PC or PLLC has been approved by the proper licensing board, that board will issue a certification. This certification must be attached to the Articles of Incorporation (PC) or Articles of Organization (PLLC) when the Articles are filed with the North Carolina Secretary of State. Structure and management of the PC are exactly like any other corporation, with Bylaws, shareholders, and a Board of Directors. Likewise, structure and management of the PLLC are exactly as any other limited liability company, with an Operating Agreement, members, and manager or managers.
As always, consult with your attorney and CPA regarding whether your business falls under this category.
Revolution Law Group is located in Greensboro, NC, and serves individuals and small businesses throughout the Triad and surrounding areas. To contact us please visit Revolution.law or call 336-333-7907.
The information included here is for informational purposes only, is not exhaustive of all considerations when creating documents, is not intended to be legal advice, and should not be relied upon for that purpose. We strongly recommend you consult with an attorney and do not attempt to create your own documents.