Review your local statutes that authorize the formation of professional corporations or associations and determine the following:
a. Which professions are authorized to conduct business as professional corporations?
b. Find at least three differences in the statutory authority to form and operate a professional corporation among the professions so authorized and explain the policy reasons behind the variations.
c. What names are permitted in your state for professional corporations or associations? Do they differ among professions, and if so, why?
d. To what extent does the existence or nonexistence of insurance affect the individual liability of the shareholders of a professional corporation or association? Does it differ among professions, and if so, why?
