My colleague asked me to look at this question. He is quite knowledgeable, however, in this instance, I must respectfully XXXXX XXXXX his answer.
Under California law, unless a medical clinic is a bona fide non-profit organization, or a certified hospital, then at least 51% of the shares must be owned by a licensed physician and surgeon. The remaining 49% may be owned by: podiatrists, psychologists, registered nurses, optometrists, marriage and family therapists, clinical social workers, physician assistants, chiropractors, acupuncturists, or naturopathic doctors.
The number of these licensed persons cannot exceed the number of physicians and cannot exceed a combined share total of 49%. A lay (unlicensed) person cannot own any shares of a California medical corporation.
Source laws: http://www.medbd.ca.gov/laws/Index.html.
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