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CA SB920
Bill
AI Summary
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Extends authorization for licensed engineers, land surveyors, and architects to form registered and foreign limited liability partnerships until January 1, 2026 (previously set to expire January 1, 2019).
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Requires these professional limited liability partnerships to maintain security of at least $2,000,000 for claims arising from professional practice, with options including insurance policies, cash escrow, partner guarantees, or net worth confirmation.
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Removes architecture from the list of professional limited liability partnership services allowed after January 1, 2026, while maintaining authorization for public accountancy and law practices.
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Modifies Corporations Code definitions and registration requirements for limited liability partnerships to align with extended authorization period and profession-specific rules.
Legislative Description
Engineering, land surveying, and architecture: limited liability partnerships.
Last Action
Chaptered by Secretary of State. Chapter 150, Statutes of 2018.
7/20/2018