N.Y. Business Corporation Law § 1514: Triennial statement

§ 1514. Triennial statement.

(a) Each professional service corporation shall, at least once every

three years on or before the date prescribed by the licensing authority,

furnish a statement to the licensing authority listing the name and

residence address of each shareholder, director and officer of such

corporation and certifying that all such individuals are authorized by

law in this state to practice a profession which such corporation is

authorized to practice. The statement shall be signed by the president

or any vice-president of the corporation and attested to by the

secretary or any assistant secretary of the corporation.

(b) Each design professional service corporation shall, at least once

every three years on or before the date prescribed by the licensing

authority, furnish a statement to the licensing authority listing the

names and residence addresses of each shareholder, director and officer

of such corporation and certify as the date of certification and at all

times over the entire three year period that:

(i) greater than seventy-five percent of the outstanding shares of

stock of the corporation are and were owned by design professionals and

an ESOP (or ESOPs) with greater than seventy-five percent of the plan's

voting trustees or greater than seventy-five percent of the plan's

committee members being design professionals,

(ii) greater than seventy-five percent of the directors are and were

design professionals,

(iii) greater than seventy-five percent of the officers are and were

design professionals,

(iv) the president, the chairperson of the board of directors and the

chief executive officer or officers are and were design professionals,

and

(v) the single largest shareholder is and was either a design

professional or an ESOP with greater than seventy-five percent of the

plan's voting trustees being design professionals and greater than

seventy-five percent of the plan's committee members being design

professionals.

The statement shall be signed by the president or any design

professional vice-president and attested to by the secretary or any

assistant secretary of the corporation.

(c) Each firm established for the business purpose of incorporating as

a professional service corporation pursuant to paragraph (h) of section

fifteen hundred three of this article shall, at least once every three

years on or before the date prescribed by the licensing authority,

furnish a statement to the licensing authority listing the names and

residence addresses of each shareholder, director and officer of such

corporation and certify as the date of certification and at all times

over the entire three year period that:

(i) at least a simple majority of the outstanding shares of stock of

the corporation are and were owned by certified public accountants,

(ii) at least a simple majority of the directors are and were

certified public accountants,

(iii) at least a simple majority of the officers are and were

certified public accountants,

(iv) the president, the chairperson of the board of directors and the

chief executive officer or officers are and were certified public

accountants.

The statement shall be signed by the president or any certified public

accountant vice-president and attested to by the secretary or any

assistant secretary of the corporation.