CHAPTER 194 SENATE BILL No. 263 An Act concerning corporations; relating to professional corporations; amending K.S.A. 2000 Supp. 17-2707 and repealing the existing section. Be it enacted by the Legislature of the State of Kansas:

      Section  1. K.S.A. 2000 Supp. 17-2707 is hereby amended to read as
follows: 17-2707. As used in this act, unless the context clearly indicates
that a different meaning is intended, the following words mean:

      (a) ``Professional corporation,'' means a corporation organized under
this act.

      (b) ``Professional service,'' means the type of personal service ren-
dered by a person duly licensed by this state as a member of any of the
following professions, each paragraph constituting one type:

      (1) A certified public accountant;

      (2) an architect;

      (3) an attorney-at-law;

      (4) a chiropractor;

      (5) a dentist;

      (6) an engineer;

      (7) an optometrist;

      (8) an osteopathic physician or surgeon;

      (9) a physician, surgeon or doctor of medicine;

      (10) a veterinarian;

      (11) a podiatrist;

      (12) a pharmacist;

      (13) a land surveyor;

      (14) a licensed psychologist;

      (15) a specialist in clinical social work;

      (16) a registered physical therapist;

      (17) a landscape architect;

      (18) a registered professional nurse;

      (19) a real estate broker or salesperson.;

      (20) a clinical professional counselor;

      (21) a geologist;

      (22) a clinical psychotherapist; and

      (23) a clinical marriage and family therapist.

      (c) ``Regulating board,'' means the court, board or state agency which
is charged with the licensing and regulation of the practice of the pro-
fession which the professional corporation is organized to render.

      (d) ``Qualified person'' means:

      (1) Any natural person licensed to practice the same type of profes-
sion which any professional corporation is authorized to practice;

      (2) the trustee of a trust which is a qualified trust under subsection
(a) of section 401 of the federal internal revenue code of 1954, as
amended, as in effect on January 1, 2001, or of a contribution plan which
is a qualified employee stock ownership plan under subsection (a) of sec-
tion 409A of the federal internal revenue code of 1954, as amended, as
in effect on January 1, 2001; or

      (3) the trustee of a revocable living trust established by a natural
person who is licensed to practice the type of profession which any pro-
fessional corporation is authorized to practice, if the terms of such trust
provide that such natural person is the principal beneficiary and sole
trustee of such trust and such trust does not continue to hold title to
professional corporation stock following such natural person's death for
more than a reasonable period of time necessary to dispose of such stock.

 Sec.  2. K.S.A. 2000 Supp. 17-2707 is hereby repealed.
 Sec.  3. This act shall take effect and be in force from and after its
publication in the statute book.

Approved May 21, 2001.
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