1684

LAWS OF MARYLAND

[Ch. 311

ESTATE, MORTGAGES, STOCKS, BONDS, OR ANY OTHER TYPE OF
INVESTMENT, AND MAY OWN REAL OR PERSONAL PROPERTY
NECESSARY FOR THE PERFORMANCE OF A PROFESSIONAL SERVICE.

REVISOR'S NOTE: This section presently appears as
Art. 23, §436.

In this section and throughout this subtitle,
the term "professional corporation," which is
defined in § 5—101, is substituted for
"corporation organized under this subtitle."

The only other changes are in style.

5-105. PROFESSIONAL SERVICE TO BE PERFORMED THROUGH
LICENSED EMPLOYEES.

(A)   TERM "EMPLOYEE" LIMITED.

AS USED IN THIS SECTION, "EMPLOYEE" DOES NOT INCLUDE
A CLERK, SECRETARY, BOOKKEEPER, TECHNICIAN, OR OTHER
ASSISTANT WHO IS NOT CONSIDERED BY CUSTOM AND PRACTICE TO
BE PERFORMING A PROFESSIONAL SERVICE FOR THE PUBLIC SO AS
TO REQUIRE A LICENSE.

(B)   EMPLOYEES TO BE LICENSED.

A PROFESSIONAL CORPORATION MAY NOT PERFORM ANY
PROFESSIONAL SERVICE EXCEPT THROUGH EMPLOYEES AND AGENTS
WHO ARE LICENSED TO PERFORM THE PROFESSIONAL SERVICE IN
THE STATE.

REVISOR'S NOTE: This section presently appears as
the first two clauses of Art. 23, §434.

In subsection (a) of this section, the phrase
"usually and ordinarily considered" is deleted
as unnecessary.

The only other changes are in style.

5-106. EMPLOYMENT RELATIONSHIP NOT REQUIRED BETWEEN
PROFESSIONAL CORPORATION AND STOCKHOLDER OR ORGANIZER.

NOTWITHSTANDING ANY OTHER PROVISION OF THIS
SUBTITLE, AN INDIVIDUAL MAY ORGANIZE OR BE A STOCKHOLDER
OF A PROFESSIONAL CORPORATION WHETHER OR NOT HE:

(1)    IS OR WILL BE AN EMPLOYEE OF THE
CORPORATION; OR

(2)    DOES OR WILL PARTICIPATE ACTIVELY IN ANY
CAPACITY IN THE PRODUCTION OF INCOME OF THE CORPORATION
OR IN THE PERFORMANCE OF THE SERVICE BY IT.