{"code":"BPC","codeName":"Business and Professions Code","section":"2412","citation":"Bus. & Prof. Code, § 2412","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. HEALING ARTS [500. - 4999.202.]","url":"https://blackletter.si/business-and-professions-code/division-2"},{"name":"CHAPTER 5. Medicine [2000. - 2529.8.1.]","url":"https://blackletter.si/business-and-professions-code/division-2/chapter-5"},{"name":"ARTICLE 18. Corporations [2400. - 2417.5.]","url":"https://blackletter.si/business-and-professions-code/division-2/chapter-5/article-18"}],"history":"Added by Stats. 1980, Ch. 1314, Sec. 4.7.","effective":null,"html":"<p>The Division of Licensing may adopt and enforce regulations to carry out the purposes and objectives of this article and the Moscone-Knox Professional Corporation Act including regulations requiring (a) that the bylaws of a medical or podiatry corporation shall include a provision whereby the capital stock of such corporation owned by a disqualified person (as defined in Section <a href=\"/corp/13401\">13401</a> of the Corporations Code), or a deceased person, shall be sold to the corporation or to the remaining shareholders of such corporation within such time as such regulations may provide, and (b) that a medical or podiatry corporation shall provide adequate security by insurance or otherwise for claims against it by its patients arising out of the rendering of professional services.</p>","text":"The Division of Licensing may adopt and enforce regulations to carry out the purposes and objectives of this article and the Moscone-Knox Professional Corporation Act including regulations requiring (a) that the bylaws of a medical or podiatry corporation shall include a provision whereby the capital stock of such corporation owned by a disqualified person (as defined in Section 13401 of the Corporations Code), or a deceased person, shall be sold to the corporation or to the remaining shareholders of such corporation within such time as such regulations may provide, and (b) that a medical or podiatry corporation shall provide adequate security by insurance or otherwise for claims against it by its patients arising out of the rendering of professional services.","otherVersions":[],"url":"https://blackletter.si/business-and-professions-code/corporations-2412","source":"California Legislative Information bulk export (pubinfo)"}