MI HB4334

Amends the Michigan Limited Liability Company Act to establish ownership requirements for professional limited liability companies engaged in public accounting practice.

Requires more than 50% of equity and voting rights in a professional LLC practicing public accounting to be held directly or beneficially by individuals licensed or authorized to practice public accounting under Michigan's occupational code.

Allows physicians, osteopathic physicians, podiatric physicians, and physician's assistants to organize professional LLCs together, subject to public health code restrictions.

Permits licensed persons from other jurisdictions to become members, managers, employees, or agents of professional LLCs but prohibits them from rendering professional services in Michigan until properly licensed.

Takes effect immediately upon approval by the Governor on October 15, 2013.