PROFESSIONAL LTD. LIABILITY CO. - S.B. 228: FLOOR ANALYSIS

Senate Bill 228 (as reported by the Committee of the Whole)

Sponsor: Senator Michael J. Bouchard

Committee: Economic Development, International Trade and Regulatory Affairs

CONTENT

The bill would amend the Michigan Limited Liability Company (LLC) Act to specify that a professional LLC could engage in the practice of architecture, professional engineering, or professional surveying in Michigan if at least two-thirds of the company's members were licensed in this State to render the professional services offered. The Act currently provides that a professional LLC may render one or more professional services, and each member and manager must be a person licensed in one or more of the professional services rendered by the company.

MCL 450.4904 - Legislative Analyst: P. Affholter

FISCAL IMPACT

The bill would have no fiscal impact on State or local government.

Date Completed: 4-15-97 - Fiscal Analyst: M. Tyszkiewicz

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This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.