Practice Guidelines

Guidelines for Professional Engineering Practice in New York State


 

Update to  Guide Line 2 - New Business Entity

  • Chapter 550 of the Laws of 2011 amends the Business Corporation Law and the Education Law to authorize a new type of professional service corporation - "Design Professional Service Corporation", or "D.P.C." Unlike existing business structures, design professional service corporations have the flexibility of offering an ownership interest in the corporation to non-licensees. This new law requires that greater than 75% of the stock be owned by licensed design professionals, greater than 75% of the directors and officers be licensed design professionals, and that the largest single shareholder be a licensed design professional or, with certain restrictions, an Employee Stock Ownership Plan (ESOP). The president, chief executive officer and the chair of the board of directors also must be licensed design professionals.
  • You may wish to visit our website for additional information at http://www.op.nysed.gov/corp/pcorpdpc.htm.

 

Last Updated: August 28, 2013