Overview
The basic principles pertaining to professional incorporation, as set out in The Medical Profession Act, 1981 are the following:
1. A physician cannot practice
medicine through a professional corporation unless that professional
corporation is registered with the College of Physicians and Surgeons of
Saskatchewan.
2. The corporation must be incorporated under The Business Corporations Act of Saskatchewan.
3. The corporate name must indicate that the corporation is engaged in
the practice of medicine, and must contain the words "Professional
Corporation" or one of the approved abbreviations.
4. The incorporating documents cannot restrict any aspect of the corporation's practice of medicine.
5. Physicians remain liable for medical negligence, whether they
practice medicine in their personal capacity, or through a corporation.
6. Physicians remain accountable to the College of Physicians and
Surgeons for their conduct, whether they practice medicine in their
personal capacity or through a professional corporation.
7. Physicians have the same legal and ethical responsibilities to their
patients, whether they practice medicine in their personal capacity or
through a professional corporation.
8. All directors of the
corporation must be members of the College (physicians holding a regular license, a special license, ministerial license, or a provisional license).
9. All holders of voting shares must be members of the College (physicians holding a regular license, a special license, ministerial license, or a provisional license).
10. All physicians who practice medicine through the corporation must be registered under The Medical Profession Act, 1981.
As of August 1, 2002, this permits a physician to allow persons on
temporary licences (locum tenens permits) and Educational licences
(residents and persons in their final year of medical school) to
practice medicine by or through the professional corporation. The
prohibition against persons holding such licences continues, so that
such individuals still cannot be shareholders of the Professional
Corporation or directors of the professional corporation.
11. No person can have a right to exercise voting control over voting
shares, other than a member of the College (physicians holding a regular license, a special license, ministerial license, or a provisional license).
12. No person can have a right to exercise voting control over voting shares, other than a member of the College. Non-voting shares can only be owned by:
a. a member of the College; or
b. that member's spouse; or
c. that member's children; or
d. that member's parents; or
e. a corporation that meets the requirements of the Act; or
f. a trust that meets the requirements of the Act.
13. All physicians who practice medicine through the corporation must have insurance that meets the requirements of the College's regulatory bylaws.
Corporation Information Package.pdf