New York A09012 prohibits non-physician organizations from holding majority shares or serving as directors in professional corporations practicing.

New York A09012 amends the not-for-profit corporation law, business corporation law, and public health law to prohibit non-physician organizations or their representatives from holding majority shares in or serving as directors of professional corporations organized to practice medicine. It mandates that physicians licensed in New York hold the majority of each class of shares and be a majority of the directors in such corporations or, as appropriates of shares that is exempt;

New York A09012 prohibits non-physician organizations from holding majority shares or serving as directors in professional corporations practicing.

New York A09012 amends the not-for-profit corporation law, business corporation law, and public health law to prohibit non-physician organizations or their representatives from holding majority shares in or serving as directors of professional corporations organized to practice medicine. It mandates that physicians licensed in New York hold the majority of each class of shares and be a majority of the directors in such corporations or, as appropriates of shares that is exempt;