IC 23-1.5-2-8: The corporate name must include the words “Professional Services Corporation” or “Professional Corporation” or an abbreviation of these words. Only a professional corporation in which all shareholders are physicians licensed under IC 25-22.5 may use the term “medical” in its corporate name.
IC 23-1.5-3-6: A professional corporation shall file a copy of its articles of incorporation, certified by the secretary of state, with PLA. Thereafter, the corporation shall file with PLA certified copies of all amendments to its articles of incorporation, including articles of acceptance and all articles of merger to which the corporation is a party.
A professional corporation shall notify PLA of a change in the ownership of any of the shares in the professional corporation or a change in its business address within thirty (30) days after the date of the change. Notice of change in ownership must contain the names and post office addresses of the transferor shareholder and the transferee shareholder, and notice of change of business address must contain the street address of the old location and the street address of the new location.
Other Important Information
Chiropractors, dentists, nurses, optometrists, pharmacists, physical therapists, physicians, podiatrists, psychologists, speech-language pathologists, and audiologists may form limited liability companies (LLC). It is not necessary to register with Professional Licensing Agency an LLC formed by one or more of these professionals. The LLC must register with the Office of the Secretary of State.
If a member of a profession not listed above desires to form a limited liability company, a written request for authority to form a LLC must be submitted to the appropriate board or committee to determine the extent to which authorization will be granted under IC 23-18-2-2.
Questions regarding the advisability of forming a professional corporation, limited liability company or other form of business entity should be directed to your legal counsel or accountant. The board, committees, and staff of PLA are not able to provide you with legal or financial advice. The laws regarding corporations may be found at http://www.ai.org/legislative/ic/code/title23/ar1.5/index.html