Definition of Practice Account


Practice Account means any bank account in the name of and owned by Practice.
Sample 1

Examples of Practice Account in a sentence

The term "Practice Account" shall mean the bank account established as described in Sections 3.11 herein below.
Professional Business Manager shall have access to the Professional Practice Account solely for the purposes stated herein.
The Practice Account shall be opened in the Doctor's name and under the Doctor's employment identification number ("EIN") as issued by the Internal Revenue Service.
Company shall pay from the Practice Account all costs and expenses reasonably related to the Practice, including but not limited to compensation benefits and employment costs associated with all Licensed Personnel, professional liability insurance, medical supplies and all such other direct and indirect expenses reasonably incurred by Doctor in the provision of Professional Services for the Practice (collectively, "Practice Expenses").
Company shall open and maintain a bank account designated as "Practice Account" for the deposits and disbursement of funds of the Practice.