Section 10A-4-2.03 - Powers of professional corporation generally; profession limited by certificate of formation(a) Subject to Section 10A-4-5.07, a domestic professional corporation, including a professional corporation that is a nonprofit corporation, shall have all the powers necessary or convenient to effectuate its purposes, including those enumerated in Sections 10A-1-2.11, 10A-1-2.12, and 10A-1-2.13.(b) A domestic professional corporation shall not engage in any profession other than the profession or professions permitted by its certificate of incorporation, except that a domestic professional corporation may invest its funds in real estate, mortgages, stocks, bonds, or any other type investment.Ala. Code § 10A-4-2.03 (1975)
Amended by Act 2024-413,§ 1, eff. 8/1/2024.Acts 1983, No. 83-514, p. 763, §6; §10-4-385; amended and renumbered by Act 2009-513, p. 967, § 203.