Act No. 123

Public Acts of 1997

Approved by the Governor

October 31, 1997

Filed with the Secretary of State

November 3, 1997

EFFECTIVE DATE: November 3, 1997

STATE OF MICHIGAN

89TH LEGISLATURE

REGULAR SESSION OF 1997

Introduced by Senator Bouchard

ENROLLED SENATE BILL No. 228

AN ACT to amend 1993 PA 23, entitled "An act to provide for the organization and regulation of limited liability companies; to prescribe their duties, rights, powers, immunities, and liabilities; to prescribe the powers and duties of certain state departments and agencies; and to provide for penalties and remedies," by amending section 904 (MCL 450.4904), as amended by 1997 PA 52.

The People of the State of Michigan enact:

Sec. 904. (1) Except as otherwise provided in this section or otherwise prohibited, a professional limited liability company may render 1 or more professional services, and each member and manager shall be a licensed person in 1 or more of the professional services rendered by the company.

(2) If the 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 shall be licensed or legally authorized in this state to render the same professional service.

(3) A licensed person of another jurisdiction may become a member, manager, employee, or agent of the 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.

(4) 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.

(5) A professional limited liability company organized under this article may engage in the practice of public accounting in this state if not less than 2/3 of the equity and voting rights of the professional limited liability company are held directly or beneficially by individuals who are licensed in good standing as certified public accountants of this or another state or the equivalent in another licensing jurisdiction acceptable to the board of accountancy. As used in this subsection, "board of accountancy" means that board created in section 721 of the occupational code, 1980 PA 299, MCL 339.721.

This act is ordered to take immediate effect.

Secretary of the Senate.

Clerk of the House of Representatives.

Approved

Governor.