N.D. Cent. Code § 10-31-01

Current through 2024 Legislative Session

Section 10-31-01 - Definitions

As used in this chapter, unless the context otherwise requires:

1. "Create" means to form an organization by:

a. Incorporating a professional corporation;

b. Organizing a professional limited liability company; or

c. Registering a professional limited liability partnership.

2. "Executive" means an officer or a director of a professional corporation, a manager or a governor of a professional limited liability company, or a partner of a professional limited liability partnership.

3. "Foreign limited liability partnership" has the meaning set forth in section 45-22-01.

4. "Foreign professional organization" means a professional organization that is created under laws other than the laws of this state for purposes for which a professional organization may be created under this chapter.

5. "Minority owner" means an owner of a professional organization:

a. Who is not licensed or otherwise legally authorized within this state to render the same professional service as the organization;

b. Who provides a service to the organization which is ancillary to the organization's professional service;

c. Who does not provide that owner's service to the public through the organization; and

d. Who is expressly authorized under subsection 3 of section 10-31-04.

6. "Owner" means a shareholder of a professional corporation, a member of a professional limited liability company, or a partner of a limited liability partnership.

7. "Professional corporation" or "corporation" means a corporation that is incorporated under this chapter for the purpose of rendering professional service and which has as its shareholders only:

a. Individuals who themselves are licensed or otherwise legally authorized within this state to render the same professional service as the corporation;

b. Nonlicensed employees as provided in section 10-31-07.1; and

c. Minority owners.

8. "Professional limited liability company" or "limited liability company" means a limited liability company that is organized under this chapter for the purpose of rendering professional service and which has as its members only:

a. Individuals who themselves are licensed or otherwise legally authorized within this state to render the same professional service as the limited liability company;

b. Nonlicensed employees as provided in section 10-31-07.2; and

c. Minority owners.

9. "Professional limited liability partnership" or "limited liability partnership" means a limited liability partnership that is registered under this chapter for the purpose of rendering professional service, is not a foreign limited liability partnership, and has as its partners only:

a. Individuals who are licensed or otherwise legally authorized within this state to render the same professional service as the limited liability partnership;

b. Nonlicensed employees as provided in section 10-31-07.1; and

c. Minority owners.

10. "Professional organization" or "organization" means:

a. A professional corporation that is incorporated under this chapter;

b. A professional limited liability company that is organized under this chapter; or

c. A professional limited liability partnership that is registered under this chapter.

11. "Professional service" means the personal service to the public which requires a license as a condition precedent to the rendering of such service and which requires as a condition of licensure an undergraduate or advanced college degree in the specific field.

N.D.C.C. § 10-31-01

Amended by S.L. 2013, ch. 90 (SB 2144),§ 1, eff. 7/1/2013.