§ 1412. University faculty practice corporations.\n (a) Organization. Notwithstanding any other provision of law, one or\nmore individuals who are duly authorized by law to render the same\nprofessional service, which shall be the practice of medicine, the\npractice of dentistry, the practice of chiropractics, the practice of\nphysical therapy or the practice of optometry, and who are members of\nthe faculty of the same accredited medical school, dental school,\nchiropractic college, college or university with an accredited doctor of\nphysical therapy program or optometry college, as applicable, in the\nstate of New York may organize, or cause to be organized, a university\nfaculty practice corporation under this article (1) for the purpose of\nsupporting the educational mission of such school by providing clinical\ninstruction and supervision of students of such school, interns and\nresidents and, incident thereto, rendering professional services and (2)\nwhich shall be operated in compliance with (A) section 501(c)(3) of the\nUnited States internal revenue code and (B) the faculty practice plan\nwith which members of the faculty of such school are required to comply,\nas amended from time to time.\n (b) Definition. "University faculty practice corporation" means a\ncorporation organized or reincorporated under this section.\n (c) Certificate of incorporation. The certificate of incorporation of\na university faculty practice corporation shall meet the requirements of\nthis chapter and shall have attached thereto a certificate or\ncertificates issued by the licensing authority certifying that each of\nthe proposed members, if any, directors and officers is authorized by\nlaw to practice the profession which the corporation is being organized\nto practice. The certificate shall also state (1) the name of the\nmedical school, dental school, chiropractic college, college or\nuniversity with an accredited doctor of physical therapy program or\noptometry college, as applicable, in the state of New York of which the\nproposed members, if any, directors and officers are faculty and (2)\nthat such corporation shall operate in compliance with (A) section\n501(c)(3) of the United States internal revenue code and (B) the faculty\npractice plan with which members of the faculty of such school are\nrequired to comply, as amended from time to time.\n (d) Type. A university faculty practice corporation is a charitable\ncorporation under this chapter.\n (e) Applicability of laws; members, directors and officers. This\nchapter shall be applicable to a university faculty practice corporation\nexcept to the extent that the provisions thereof conflict with this\nsection. A university faculty practice corporation may consolidate or\nmerge only with another university faculty practice corporation. The\nfollowing provisions of article fifteen of the business corporation law\nshall be applicable to a university faculty practice corporation except\nthat each reference in such provisions to a "shareholder" shall be\ndeemed to be a reference to a "member" and each reference in such\nprovisions to "shareholders" shall be deemed a reference to "members":\nparagraphs (a), (b), (c) and (e) of section fifteen hundred one;\nparagraphs (b), (c) and (d) of section fifteen hundred three; paragraphs\n(a), (c) and (g) of section fifteen hundred four; section fifteen\nhundred five; section fifteen hundred nine except to the extent such\nsection refers to section fifteen hundred ten; paragraph (a) of section\nfifteen hundred twelve; section fifteen hundred fourteen; and section\nfifteen hundred fifteen. No individual may be a member, director or\nofficer of a university faculty practice corporation unless such\nindividual is authorized by law to practice in this state the profession\nwhich such corporation is authorized to practice and is a member of the\nfaculty of the medical school, dental school, chiropractic college,\ncollege or university with an accred
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