Incorporation Attorney has served many podiatric physicians through the years by helping them open their own clinics. Starting a professional corporation, such as a podiatry corporation, can be very challenging. Any mistake in the formation process could lead to legal and corporate problems in the future. That is why it is best to seek the help of specialists, like Incorporation Attorney. Our team of corporate lawyers specializes in setting up a private podiatry practice. We’ve been doing this for decades! Here are a few basic facts you should know about podiatry corporations in California: 

Professional Podiatry Corporation – What is it? 

There are many types of professional corporations in California, and a podiatry corporation is one of them. In order to legally render professional services as podiatric physicians, a podiatry corporation must be registered with the California Secretary of State.  

California State Laws that Regulate the Formation of Podiatry Corporations 

Podiatry corporations formed in California must abide by the following State laws: 

1. California Corporations Code 
2. Business and Professions Code 
3. California Code of Regulations Title 16. Professional and Vocational Regulations, Division 13.9, Board of Podiatric Medicine of the Medical Board of California  

Government Agency in California That Regulates Professional Podiatry Corporations 

All professional corporations in California are required to comply by the rules and regulations of the government unit that manages their profession. Podiatry corporations are regulated by the California Board of Podiatric Medicine. 

Can Anyone Own Stocks in a Professional Podiatry Corporation? 

The licensed individuals that are allowed to own stocks in a professional podiatry corporation include physicians and surgeons, psychologists, nurses, optometrists, chiropractors, acupuncturists, naturopathic doctors, and physical therapists. 

The sum of all the shares owned by any of these licensed individuals must not exceed 49% of the total number of shares of the company. The number of persons that own shares in the company should also not exceed the total number of persons licensed by the California Board of Podiatric Medicine to practice as podiatrists in California.

Who Can Serve as an Officer or Director of a Podiatry Corporation in California? 

In setting up a private podiatry practice in California, there have to be officers and directors elected to enable an organized corporation. The appointment of officers and directors in a podiatry corporation is largely dependent on the number of stockholders in the company. For example, if the podiatry clinic only has one stockholder, then there should also be one director needed. That single stockholder may be the same person holding the position of director in the company. The offices of the president and treasurer may also be that same person. In cases like this, the other officers in the professional corporation do not need to be licensed individuals.  

In cases where there are only two stockholders in the private podiatry clinic, the company is allowed to have only two directors. The two stockholders in the corporation may be the same people who shall serve as directors in the company. These two stockholders may also decide among themselves on who shall fill the offices of president, vice president, secretary, and treasurer.  

Is there a Standard Structure or Requirements for Setting up a Business Names of Private Podiatry Practice in California? 

The business name that a private podiatry clinic may use must be restricted to the name or surname of one or more of the corporation’s present, prospective or former stockholders who are podiatric physicians.  

If the majority of a podiatry corporation’s shareholders are physicians and/or surgeons, the officers and directors must not use the designations “Podiatry Corporation or “Podiatry Corp.” On the other hand, if the majority of a podiatric corporation’s stockholders are podiatrists, the officers and directors must not use the designation “Medical Corporation” or “Medical Corp.” 

When Setting Up a Private Podiatry Practice in California, are the Owners Allowed to Use a Fictitious Business Name?  

If a professional podiatry corporation uses a fictitious, false, or assumed name or any name other than the name or surname of the company’s present, prospective, or former stockholder, or any other names in addition to those of the stockholders, the company must file a permit with the California Board of Podiatric Medicine pursuant to Section 2415 of the code.  

When private podiatry clinics file for fictitious name permits, the Board reviews the applications in date-received order. The approximate time for processing a permit is four to six weeks. After the review is completed, the applicant may expect to receive in their mail two of the possible results: approval of the permit or a letter of deficiency. Letters of deficiency explain the specific problems in the application.  

The California Board of Podiatric Medicine closely monitors the application for fictitious business names to make sure that similar “Doing Business As” names are not issued. If a fictitious business name is already taken, the FNP coordinators will communicate with the applicant either by phone, fax, or email to agree upon an alternative name.  

Are Podiatry Corporations Required to Acquire a Certificate of Registration? 

No. Private podiatry clinics in California do not need to have a certificate of registration to operate.  

If there are changes made in the Podiatry Corporation, Does the Company Need to File a Special Report with the Board? 

No. The California Board of Podiatric Medicine does not need to be apprised of the changes made in a podiatry corporation.  

Find a Corporate Attorney in California that Specializes in Setting Up a Private Podiatry Practice 

Incorporation Attorney is one of the most trusted go-to teams when setting up a private podiatry practice in California. Our team of legal experts specializes in forming professional podiatry corporations. If you plan to open your own podiatry practice, we can help you from the preparation of your Articles of Incorporation to the formulation of your company bylaws. We will help you succeed in your business! Give us a call today at +1 (714) 634-4838!