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Maryland professional corporation

Maryland professional corporation 2026

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The document outlines suggested by-laws for a Maryland Professional Corporation, emphasizing that all shareholders must be licensed to practice the profession in Maryland. It details the structure and governance of the corporation, including provisions for shareholder meetings, board of directors' responsibilities, officer roles, and regulations regarding shares and voting. The by-laws also stipulate compliance with state laws and professional standards.

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Click ‘Get Form’ to open the Maryland Professional Corporation by-laws in the editor.
In Article I, enter the name of your corporation and provide the address for both the principal and registered offices. Ensure these details are accurate as they represent your business's identity.
Proceed to Article II to specify details about shareholders. Indicate the date for the annual meeting and ensure all shareholders are licensed professionals in Maryland.
In Article III, define the number of directors and their qualifications. Remember, a majority must be licensed professionals in Maryland.
Complete Article IV by naming your officers, including at least a President, Secretary, and Treasurer. You can assign multiple roles to one individual if necessary.
Review Articles V through XII for additional provisions regarding contracts, fiscal year, dividends, and amendments. Make any necessary adjustments based on your corporation's needs.

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Does Maryland recognize PLLC?

Each member of the professional entity must be licensed to practice the same profession in Maryland. A professional entity can be a corporation or a limited liability company. Maryland law does not recognize a PLLC (professional limited liability company). However, professionals can organize as an LLC.

Does Maryland recognize S-corporations?

Maryland recognizes the federal S corporation election and does not require a state-level S corporation election.

What is an example of a professional corporation?

Professional corporations may exist as part of a larger, more complicated, legal entity; for example, a law firm or medical practice might be organized as a partnership of several or many professional corporations.

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What is the difference between a professional corporation and an LLC?

The professional corporation or PLLCs sole purpose must be to provide the services of the licensed professionals, such as providing legal or medical services. In addition to the standard state-naming requirements, the name must clearly indicate that it is a professional corporation or PLLC.

Is there a difference between a corporation and a professional corporation?

Types of corporations A standard corporation can be formed by almost anyone. A professional corporation can generally only be established by licensed professionals in certain fields which include medical doctors, dentists, engineers, lawyers, accountants, etc.

Maryland professional corporation 2026

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