MI SB0027

Expands the definition of "licensed person" to include any corporation whose shareholders are all licensed persons, broadening who can form professional corporations.

Permits physicians, osteopathic physicians, and podiatric medicine practitioners to organize professional corporations together across their different specialties, rather than requiring all shareholders to be licensed in the same profession.

Allows physician's assistants to become shareholders in professional corporations organized by physicians, osteopathic physicians, or podiatric medicine practitioners, but prohibits physician's assistants from forming professional corporations with only other physician's assistants as shareholders.

Maintains the requirement that all shareholders of professional corporations rendering public health code services must be licensed or legally authorized in that state, except for the new multi-specialty physician arrangements and physician-physician's assistant arrangements.

Takes effect only upon enactment of Senate Bills 26 and 28 of the 95th Legislature; became effective July 19, 2010.