WILLIAM DONALD SCHAEFER, Governor                            Ch. 413

(II)     A PROFESSIONAL ENGINEER;

(III)    A LICENSED REAL ESTATE BROKER, LICENSED REAL ESTATE
SALESPERSON, OR LICENSED ASSOCIATE REAL ESTATE BROKER; OR

(IV)    A VETERINARIAN.

(B) A CORPORATION MAY BE A PROFESSIONAL CORPORATION UNDER § 5-112
OF THIS SUBTITLE FOR THE PURPOSE OF RENDERING PROFESSIONAL SERVICES
WITHIN 2 OR MORE PROFESSIONS, IF THE COMBINATION OF PROFESSIONAL
PURPOSES IS AUTHORIZED BY THE LICENSING LAW OF THE STATE APPLICABLE TO
EACH PROFESSION IN THE COMBINATION.

5-103.

(A)     EXCEPT AS OTHERWISE PROVIDED IN THIS SUBTITLE, A PROFESSIONAL
CORPORATION HAS THE POWERS ENUMERATED IN § 2-103 OF THIS ARTICLE.

(B)      A PROFESSIONAL CORPORATION MAY BE A PROMOTER, GENERAL
PARTNER, MEMBER, ASSOCIATE, OR MANAGER OF A PARTNERSHIP, JOINT
VENTURE, TRUST, OR OTHER ENTITY IF THE ENTITY IS ENGAGED SOLELY IN
RENDERING PROFESSIONAL SERVICES.

5-104.

(A)     A PROFESSIONAL CORPORATION MAY NOT RENDER A PROFESSIONAL
SERVICE OR ENGAGE IN AN ACTIVITY OTHER THAN THE PROFESSIONAL SERVICE
AUTHORIZED BY ITS ARTICLES OF INCORPORATION.

(B)      EXCEPT AS PROVIDED IN SUBSECTION (C) OF THIS SECTION, SUBSECTION
(A) OF THIS SECTION DOES NOT PROHIBIT A PROFESSIONAL CORPORATION FROM
INVESTING ITS FUNDS IN REAL ESTATE, MORTGAGES, SECURITIES, OR ANY OTHER
TYPE OF INVESTMENT.

(C)      A PROFESSIONAL CORPORATION MAY NOT, THROUGH ANY INVESTMENT,
SUBSIDIARY, OR OTHER MEANS, ENGAGE OR PARTICIPATE IN THE ACTIVE
MANAGEMENT OF ANY ENTITY, ASSOCIATION, OR VENTURE WHOSE BUSINESS
PURPOSE IS NOT REASONABLY RELATED TO THE RENDERING OF A PROFESSIONAL
SERVICE AUTHORIZED BY ITS ARTICLES OF INCORPORATION.

5-105.

(A)     A DOMESTIC OR FOREIGN CORPORATION MAY RENDER PROFESSIONAL
SERVICES IN THE STATE ONLY THROUGH INDIVIDUALS LICENSED OR OTHERWISE
AUTHORIZED IN THE STATE TO RENDER THE PROFESSIONAL SERVICES.

(B)      SUBSECTION (A) OF THIS SECTION DOES NOT:

(1) REQUIRE AN INDIVIDUAL EMPLOYED BY A PROFESSIONAL
CORPORATION TO BE LICENSED TO PERFORM SERVICES FOR THE CORPORATION IF
A LICENSE IS NOT OTHERWISE REQUIRED;

- 2283 -