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NY S08442
Bill
Status
6/18/2025
Primary Sponsor
Rachel May
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AI Summary
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Requires physicians licensed in New York to hold the majority of voting shares, constitute a majority of directors, and hold all officer positions (except secretary and treasurer) in professional corporations organized to practice medicine
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Prohibits non-physicians from directing or controlling the professional judgment of licensed physicians, physician associates, or nurse practitioners practicing within professional corporations
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Restricts removal of physician directors and officers to majority shareholder or director vote, except in cases of fiduciary duty violations, license suspension/revocation, fraud, termination, or failure to meet established standards
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Exempts federally-qualified health centers, rural health clinics, and nonprofit corporations serving migrant, rural, homeless, or medically underserved populations from these requirements
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Prohibits retaliation against medical licensees who report suspected violations of law to management services organizations, hospitals, or state/federal authorities, including protection from enforcement of non-disclosure or non-disparagement agreements
Legislative Description
Prohibits non-physician organizations or their representatives to hold majority shares in or serve as directors of professional corporations organized to practice medicine.
Last Action
REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
1/7/2026