D-3, r. 9 - Regulation respecting the practice of the dental profession within a limited liability partnership or a joint-stock company

Section 3 Disposition versions

2012-09-01

3. A member is authorized to carry on his professional activities within a partnership or company if the following conditions are respected at all times:

(1)  the aggregate of voting rights attached to partnership or company shares is held:

(a)  by at least one member of the Order;

(b)  by a legal person, trust or any other enterprise whose voting rights attached to the shares of the partnership or company, or to equity shares or other entitlements are held wholly by at least one member of the Order;

(c)  by both a person, a trust or other enterprise referred to in subparagraphs a and b;

(2)  in the case of a joint-stock company, the aggregate of non-voting shares is held by:

(a)  by at least one member of the Order;

(b)  by a relative, either by direct or indirect line of descent, of a member of the Order who holds the shares referred to in paragraph 1;

(c)  by the spouse of a member of the Order who holds the shares referred to in paragraph 1;

(d)  by a legal person, trust or any other enterprise whose voting rights attached to the shares of the partnership or company, or to equity shares or other entitlements are held wholly by a person referred to in subparagraph a, b or c;

(e)  by both a person, a trust or other enterprise referred to in subparagraph a, b, c, or d;

(3)  only members of the Order may be appointed to carry out management duties within the partnership or company, including, if applicable, the duty of a director, representative and officer;

(4)  share capital in the partnership or company may not be transferred without the consent of its board of directors;

(5)  the conditions set out in paragraphs 1 to 4 are included in the articles of constitution of the joint-stock company or stipulated in the contract constituting the limited liability partnership and these documents also stipulate that this partnership or company is constituted for the purpose of carrying on professional activities.

O.C. 498-2008, s. 3.