§ 1206. Purposes of formation. No professional service limited
liability company shall engage in any profession or professions other
than those set forth in its articles of organization. A professional
service limited liability company may only engage in a profession or
professions as to which one or more of its members is authorized by law
to render professional services in this state. In addition to engaging
in such profession or professions, a professional service limited
liability company may carry on, or conduct or transact any other
business or other activities as to which a limited liability company may
be formed under section two hundred one of this chapter. Notwithstanding
any other provision of this section, and subject to the next succeeding
sentence of this section, a professional service limited liability
company (i) authorized to practice law may only engage in another
profession or other business or activities or (ii) which is engaged in a
profession or other business or activities other than law may only
engage in the practice of law, to the extent not prohibited by any other
law of this state or any rule adopted by the appropriate appellate
division of the supreme court or the court of appeals. Any professional
service limited liability company may invest its funds in real estate,
mortgages, stocks, bonds or any other type of investments.