MI HB5966

Adds new subsection (7) to section 904 of the Michigan Limited Liability Company Act to permit professional limited liability companies to engage in the practice of public accounting if more than 50% of equity and voting rights are held by individuals licensed or authorized to practice public accounting under the occupational code.

Allows out-of-state licensed professionals to become members, managers, employees, or agents of professional limited liability companies but prohibits them from rendering professional services in Michigan until properly licensed or authorized in the state.

Requires all members and managers of professional limited liability companies rendering services under the Public Health Code to be licensed or legally authorized in Michigan for those same services.

Permits physicians, osteopathic physicians, and podiatrists to form professional limited liability companies together or with physician's assistants, but prohibits physician's assistants from organizing professional limited liability companies consisting solely of physician's assistants as members.

Establishes different licensing requirements for professional limited liability companies in architecture, engineering, and surveying: at least 2/3 of members or managers must be state-licensed for general limited liability companies, while all members and managers must be state-licensed for professional limited liability companies.