O.C.G.A.

O.C.G.A. § 14-10-5 (2019)

Business other than rendering professional service prohibited; investments and ownership of property

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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A professional association may be organized only for the purpose of rendering one specific kind of professional service and shall not engage in any business other than rendering the professional service for which it was organized. However, it may invest its funds in real estate, mortgages, stocks, bonds, or any other type of investment and may own real or personal property necessary or appropriate for rendering its professional service.

History

(Ga. L. 1961, p. 404, § 5.)

Annotations

OPINIONS OF THE ATTORNEY GENERAL Medical doctors allowed to form association even with different specialities. - Ga. L. 1961, p. 404 (see now O.C.G.A. §§ 14-10-3 and 14-10-5) allow medical doctors to form an association even where they are specialists in different areas of the medical profession such as pediatrics, gynecology, general practice,

etc., since all the doctors are practicing medicine and are governed by one board of medical examiners; on the other hand, they could not be joined in a professional association by a dentist, for example, or some member of an entirely different profession. 1963-65 Op. Att’y Gen. p. 791.

RESEARCH REFERENCES Am. Jur. 2d. - 6 Am. Jur. 2d, Associations and Clubs, §§ 12, 13.