H.B. 1297

VETOES

(3) THE CERTIFICATE OF AUTHORIZATION FOR USE OF THE
CORPORATE NAME ISSUED BY THE LICENSING UNIT IS ATTACHED TO THE ARTICLES
OF INCORPORATION DOCUMENT IN WHICH THE NAME IS ADOPTED.

5-108.

(A)     IF REQUIRED UNDER § 5-107 OF THIS SUBTITLE TO OBTAIN A
CERTIFICATE OF AUTHORIZATION FOR USE OF A CORPORATE NAME, THE
PROFESSIONAL CORPORATION OR ITS INCORPORATOR SHALL FILE AN APPLICATION
WITH THE APPROPRIATE LICENSING UNIT, USING A FORM PROVIDED BY THE
LICENSING UNIT THAT CONTAINS:

(1)      THE NAME TO BE ADOPTED BY THE CORPORATION;             

(2)      THE REASONS FOR ADOPTING THE NAME; AND

(3)      ANY OTHER INFORMATION REQUIRED BY THE LICENSING UNIT.

(B)      THE APPLICATION SHALL BE ACCOMPANIED BY THE FEE, IF ANY, SET BY
THE LICENSING UNIT.

(C)      (1) UPON RECEIPT OF THE APPLICATION AND FEE UNDER SUBSECTIONS
(A) AND (B) OF THIS SECTION, THE LICENSING UNIT SHALL CONSULT WITH AND
OBTAIN THE APPROVAL OF THE PROFESSIONAL ORGANIZATION, IF ONE EXISTS, TO
WHICH A MAJORITY OF INDIVIDUALS IN THE STATE RENDERING THE
PROFESSIONAL SERVICE BELONG.

(2) IN DETERMINING THE APPROPRIATENESS OF THE PROPOSED
CORPORATE NAME, THE PROFESSIONAL ORGANIZATION SHALL CONSIDER THE
ESTABLISHED ETHICAL STANDARDS, RULES, AND REGULATIONS OF THE
PROFESSION.

(D)     IF THE LICENSING UNIT AND THE PROFESSIONAL ORGANIZATION
APPROVE OF THE PROPOSED CORPORATE NAME, THE LICENSING UNIT SHALL ISSUE
A CERTIFICATE OF AUTHORIZATION FOR USE OF A CORPORATE NAME TO THE
CORPORATION OR ITS INCORPORATOR.

(E)      ANY LICENSING UNIT WITH JURISDICTION OVER THE PROFESSIONAL
SERVICE MENTIONED IN THE CORPORATION'S ARTICLES OF INCORPORATION MAY
APPROVE THE ADOPTION AND USE OF A CORPORATE NAME UNDER THE
PROVISIONS OF §§ 5-106 THROUGH 5-108 OF THIS SUBTITLE.

5-109.

(A) A PROFESSIONAL CORPORATION MAY ISSUE STOCK, RIGHTS, AND
OPTIONS TO PURCHASE STOCK TO:

(1) AN INDIVIDUAL WHO IS AUTHORIZED BY LAW IN THIS OR ANOTHER
STATE TO RENDER A PROFESSIONAL SERVICE NAMED IN THE CORPORATION'S
ARTICLES OF INCORPORATION;

- 3636 -