Bill Text: MI HB4334 | 2013-2014 | 97th Legislature | Engrossed
Bill Title: Businesses; limited liability companies; ownership requirements for professional limited liability companies engaged in practice of public accounting; revise. Amends sec. 904 of 1993 PA 23 (MCL 450.4904).
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Passed) 2013-10-16 - Assigned Pa 131'13 With Immediate Effect [HB4334 Detail]
Download: Michigan-2013-HB4334-Engrossed.html
HB-4334, As Passed Senate, October 8, 2013
HOUSE BILL No. 4334
February 27, 2013, Introduced by Reps. McMillin, Poleski, Howrylak and Clemente and referred to the Committee on Commerce.
A bill to amend 1993 PA 23, entitled
"Michigan limited liability company act,"
by amending section 904 (MCL 450.4904), as amended by 2010 PA 126.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 904. (1) Except as provided in this section or otherwise
prohibited, a professional limited liability company may render 1
or more professional services, and each member and manager must be
a licensed person in 1 or more of the professional services
rendered by the company.
(2) Except as provided in subsection (3) or (4), if a
professional limited liability company renders a professional
service that is included within the public health code, 1978 PA
368, MCL 333.1101 to 333.25211, then all members and managers of
the company must be licensed or legally authorized in this state to
render the same professional service.
(3) One or more individuals licensed to engage in the practice
of medicine under part 170, the practice of osteopathic medicine
and surgery under part 175, or the practice of podiatric medicine
and surgery under part 180 of article 15 of the public health code,
1978 PA 368, MCL 333.16101 to 333.18838, may organize a
professional liability company under this article with 1 or more
other individuals licensed to engage in the practice of medicine
under part 170, the practice of osteopathic medicine and surgery
under part 175, or the practice of podiatric medicine and surgery
under part 180 of article 15 of the public health code, 1978 PA
368, MCL 333.16101 to 333.18838.
(4) Subject to section 17048 of the public health code, 1978
PA 368, MCL 333.17048, 1 or more individuals licensed to engage in
the practice of medicine under part 170, the practice of
osteopathic medicine and surgery under part 175, or the practice of
podiatric medicine and surgery under part 180 of article 15 of the
public health code, 1978 PA 368, MCL 333.16101 to 333.18838, may
organize a professional limited liability company under this
article with 1 or more physician's assistants licensed under
article 15 of the public health code, 1978 PA 368, MCL 333.16101 to
333.18838.
Beginning on the effective date of the amendatory act
that
added this subsection July
19, 2010, 1 or more physician's
assistants may not organize a professional limited liability
company under this act that will have only physician's assistants
as members.
(5) A licensed person of another jurisdiction may become a
member, manager, employee, or agent of a professional limited
liability company, but shall not render any professional services
in this state until the person is licensed or otherwise legally
authorized to render the professional service in this state.
(6) A limited liability company may engage in the practice of
architecture, professional engineering, or professional surveying
in this state if not less than 2/3 of the members or managers of
the limited liability company are licensed in this state to render
1 or more of the professional services offered. A professional
limited liability company organized under this article may engage
in the practice of architecture, professional engineering, or
professional surveying in this state if all of the members and
managers of the professional limited liability company organized
under this article are licensed in this state to render 1 or more
of the professional services offered.
(7) A professional limited liability company organized under
this article may engage in the practice of public accounting, as
defined in section 720 of the occupational code, 1980 PA 299, MCL
339.720, in this state if more than 50% of the equity and voting
rights of the professional limited liability company are held
directly or beneficially by individuals who are licensed or
otherwise authorized to engage in the practice of public accounting
under article 7 of the occupational code, 1980 PA 299, MCL 339.720
to 339.736.
