The officers of a professional corporation are the representative of the corporation that handle the day to day business affairs. The officers must also be professionals as defined by the particular State statute. Every State has a requirement that each officer of a professional corporation is licensed or duly authorized professional. The directors of a professional corporation are the individuals that guide the corporation throughout the year to achieve its objectives. A board of directors is usually found in the larger professional corporations that have several or numerous professional employed.
Most States allow non-professionals to serve on the board of directors.
The board of directors usually meets one to several times a year and votes on major decisions of the corporation and gives guidance based upon those decisions to the officers who handle the day to day operations. The par value of a professional corporation can vary from State to State. Some States only allow the professional corporation to state no par value, whereas other States allow the corporation to State any par value desired. The authorized shares of a professional corporation are the same as a regular corporation in most states. A professional corporation can authorize any amount of stock it will need.