Professional corporations & limited liability companies; those licensed to be shareholders, etc. (SB209)

Introduced By

Sen. Walter Stosch (R-Glen Allen)

Description

Professional corporations and professional limited liability companies. Authorizes persons or professional business entities that are duly licensed or authorized to render the professional service under the laws of the Commonwealth or the jurisdiction under whose laws the entity is formed to be shareholders of a professional corporation or members of a professional limited liability company. The requirements that at least one of the members of a professional limited liability company and that at least one shareholder of a professional corporation be licensed or otherwise legally authorized to render the service in the Commonwealth are deleted. Amends § 13.1-1102 (“Definitions.”), § 13.1-543 (“Definitions.”), § 13.1-549 (“Qualifications of shareholders; special provisions for corporations rendering services of architects, professional engineers, landscape architects and land surveyors, and using the title of certified interior designers.”), § 13.1-549.1 (“Special provision for corporation engaged in practice of accounting.”), § 13.1-550 (“Transfer of shares.”), of the Code of Virginia. View Full Text »

Outcome

No Richmond Sunlight visitors voted on this bill while voting was open.