No person may be a manager of a professional entity who is not a person duly licensed in accordance with the provisions of this state's licensing laws for the profession or related profession to render the same professional services or related professional services as those for which the entity is formed. No person may be a shareholder of a professional corporation who is not an individual duly licensed to render the same professional services or related professional services as those for which the corporation is organized.

Laws 1961, SB 399, p. 206, § 10, emerg. eff. July 26, 1961; Amended by Laws 1963, HB 768, c. 281, § 1; Amended by Laws 1971, HB 1185, c. 30, § 1, emerg. eff. March 22, 1971; Amended by Laws 1979, HB 1241, c. 6, § 1; Amended by Laws 1981, SB 185, c. 312, § 6, eff. October 1, 1981; Amended by Laws 1993, SB 546, c. 345, § 3, eff. September 1, 1993; Amended by Laws 1995, HB 1357, c. 339, § 8, eff. November 1, 1995.