§1090. Shares
A. There shall be only one class of shares of professional architectural
corporations, denominated common shares which shall be either with or
without par value.
B. A majority of the outstanding shares of a professional architectural
corporation shall be held by one or more natural persons duly licensed to
practice architecture in this state, holding his shares in his own right.
C. The requirement of Subsection B of this Section may be met if such
shares are held or owned by a holding company, a majority of the stock of
which is owned by one or more natural persons duly licensed to practice
architecture in this state, and the holding company is the direct owner of the
stock of such professional architectural corporation.
Added by Acts 1979, No. 225, §1, eff. July 9, 1979.