HB5211 Summary

• Amends the Professional Service Corporation Act to set certificate of registration expiration on January 1, 2019, and every third year thereafter for entities regulated by the Department of Financial and Professional Regulation, with a renewal fee of $40.

• Amends the Medical Corporation Act to align certificate expiration and renewal fees with the Professional Service Corporation Act changes (expires January 1, 2019 and every third year thereafter; renewal fee of $40 instead of $40 per year).

• Removes prohibitions in the Limited Liability Company Act preventing LLCs from rendering certain professional services (dentistry, medicine, real estate, psychology, social work, marriage and family therapy, professional counseling, sex offender evaluation, and veterinary medicine).

• Creates the Professional Limited Liability Company (PLLC) structure requiring company names to include "professional limited liability company," "P.L.L.C.," or "PLLC" and establishing that PLLCs must comply with the Professional Limited Liability Company Act and provide services licensed by the Department of Financial and Professional Regulation.

• Sets PLLC certificate of registration expiration on January 1, 2019, and every third year thereafter with a $40 renewal fee; requires certificate issuance by the Department before a PLLC may operate.