Professional Corporations

PURPOSE: This rule establishes guidelines for real estate salespersons who wish to incorporate as a professional corporation. (1) Only salespersons and broker-salespersons who are licensed to render the services mentioned in section 339.010.2, RSMo may be licensed as professional corporations. (2) All applications for licensure as a professional corporation shall be subject to the provisions of 20 CSR 2250-3.010 and all applicable provisions of Chapter 339, RSMo. (3) Before a professional corporation license will be issued, the proposed corporate name must be approved by the commission. The applicant shall file with the commission an application for name approval accompanied by the required fee. (4) All professional corporation licenses shall be issued in the name of the salesperson or broker-salesperson to whom the license is issued. No fictitious names will be accepted. The name shall contain the words Professional Corporation or the abbreviation P.C. and the licensee shall use that designation in the course of rendering any professional service. (5) All stock or shares in a professional corporation must be held by the salesperson or broker-salesperson to whom the professional corporation license is issued. (6) At the time of issuance of a license to a professional corporation, the applicant or licensee shall file with the commission an application, accompanied by the required fee and the certificate of incorporation. (7) Upon dissolution of a licensed professional corporation, the professional corporation is subject to the provisions of 20 CSR 22504.050. AUTHORITY: section 339.120, RSMo Supp. 2008.* This rule originally filed as 4 CSR 250-4.075. Original rule filed June 16, 1989, effective Sept. 28, 1989. Amended: Filed Feb. 2, 1994, effective Aug. 28, 1994. Amended: Filed June 28, 2002, effective Dec. 30, 2002. Moved to 20 CSR 2250-4.075, effective Aug. 28, 2006. Amended: Filed April 3, 2009, effective Sept. 30, 2009. *Original authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993, 1995, 1999, 2004, 2008.