10-31-06. Executives and owners

10-31-06. Executives and owners 1. An individual may not simultaneously be an executive or owner of more than one professional organization rendering the same professional service. 2. A professional organization in the form of a corporation which has only one shareholder need have only one director, who must be the shareholder. That individual also shall serve as the president and treasurer of the corporation. The other officers of the corporation need not be licensed or otherwise legally authorized in the same field of endeavor as the president. 3. A retired individual may not continue as an executive or owner of a professional organization.