PTBC (Physical Therapy Board of California) California Law Practice Exam

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What are the requirements for Professional Corporations?

Following general corporation law and being a professional corp within specific act
Having a physical office in at least three countries
Being endorsed by a celebrity
Owning a sports team

The correct answer is: Following general corporation law and being a professional corp within specific act

Professional corporations, like general corporations, must follow the laws and regulations set forth by their governing body and must adhere to corporate laws in order to operate. According to the specific act, which varies by state, professional corporations must also be involved in certain professions such as medicine, law, or accounting. Options B, C, and D do not pertain to the requirements for professional corporations and would not be considered as correct choices. Option B and D involve physical presence and ownership of assets, which are not tied to the professional corporation's legal structure. Option C involves endorsements, which are not a requirement for forming a professional corporation. The correct answer, option A, discusses the specific requirements for forming a professional corporation.