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Professional Corporations and PA Ownership

 

August 2007


The AAPA recently had an inquiry about PA ownership of professional corporations in South Carolina. They believe that PAs can incorporate via a professional association or a professional corporation.The relevant statutory information is as follows:

 

A professional service is a service that may be rendered only by a person licensed or otherwise authorized by a licensing authority to render the service.

 

A corporation may elect professional corporation status solely for the rendering of professional services, including services ancillary to them, within a single profession.

 

A corporation may elect professional corporation status for the rendering of professional services within two or more professions to the extent the combination of professional purposes or of professional and business purposes is authorized by the licensing law applicable to each profession in the combination.

 

An assistant to a physician certified by the medical board may perform acts, tasks or functions as long as the assistant is approved and certified by the board to function as an assistant to a specified physician,specified physicians' group, or professional association and the act, task, or function is performed at the direction and under the supervision of the physician, physicians' group, or professional association in accordance with the rules of the medical board.
Statute 33-19-103, 110, 40-47-60(4)

 

The AAPA has a notation within their information that says, "The SC medical association attorney says that PAs may be shareholders in professional corporations, but may not be shareholders in professional associations. Anecdotal evidence is that most medical groups are professional associations.


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