Article archive / October 1, 2010
Originally published: . Volume 2, No. 2. Source pages: 6.
In their April presentation at the LPA convention, psychology board representatives reminded psychologists that RS 12:1132 requires a phrase to be included in the corporate name of those practicing psychology through a corporation.
The statute about the corporate name (Ҥ1132) was added in 1980 and notes that:
The name shall end with one of the phrases (which may be in parentheses) "A Professional Psychology Corporation," "A Professional Corporation" or "A Psychology Corporation." The name may include "Limited" or "Ltd." The name need not contain "Incorporated" or "Inc."
Executive Director, Ms. Jaime Monic, explained to the Times that the topic was considered at the board’s April Long-Range Planning meeting. She said, “The issue arose from the discovery that some registered corporations were not incorporated by licensed psychologists. However, this led to discussions regarding the requirement for professional psychology corporations to be subject to regulation by the LSBEP.”
She continued, “As a result, we will be taking a closer look at this law over the next year to determine the need for and level of rule making in this area. Once the Board has completed its due diligence we will work with licensees to educate them on the requirements of the statute and, if needed, correct any issues which may be discovered as we delve into this area.”
For some, articles of incorporation may need to be amended to include the additional phrase. A CPA or attorney can draft the amendment and submit to the Secretary of States’ office. Guy Knootz, CPA, a Baton Rouge accountant, noted that filing fees to amend articles of incorporation with the Secretary of State’s office will be approximately $60.
Sole proprietorships do not fall under the same requirement.
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