§ 48-249-1105. Power
General powers. Except as provided in subsection (b), or otherwise limited by this part, a PLLC has the powers enumerated in § 48-249-104. Other professional entities. A PLLC may be a promoter, general partner, member, holder of financial rights, associate or manager of a PLLC, professional corporation, partnership, joint venture, trust or other entity, only […]
§ 48-249-1106. Rendering of Professional Services
Licensed individuals. A domestic or foreign PLLC may render professional services in this state only through individuals licensed or otherwise authorized in this state to render the services. Nonapplicability. Subsection (a) does not: Require an individual employed by a PLLC to be licensed to perform services for the PLLC, if a license is not otherwise […]
§ 48-249-1107. Professions and Other Business Allowed to Be Rendered
Limitation by articles. A PLLC may not render any professional service, or engage in any business, other than the professional service and business authorized by its articles. Other investments. Subsection (a) does not prohibit a PLLC from investing its funds in real estate, mortgages, securities or any other type of investment.
§ 48-249-1108. Name
Name requirements. The name of a domestic PLLC and of a foreign PLLC that is applying for a certificate of authority or is authorized to transact business in this state, in addition to satisfying the requirements of §§ 48-249-106 and 48-249-903, except the requirement that the name include the words “limited liability company” or “LLC”: […]
§ 48-249-1109. Eligible Members and Holders
Members and holders. A PLLC may have both members and holders of financial rights, and may issue both membership interests to members and financial rights to holders. General eligibility. A PLLC may have persons who are not licensed to practice a profession described in the PLLC’s articles in this state as members or holders of […]
§ 48-249-1110. Transfers
Qualified persons only. Subject to §§ 48-249-507 and 48-249-508, a member or holder of financial rights of a PLLC may transfer such member’s or holder’s membership interest, governance rights or financial rights, as applicable, in the PLLC, only to qualified persons; provided, that nothing in this section shall be construed as prohibiting such a member […]
§ 48-249-1111. Required Purchase of Membership Interest and Financial Rights
Purchase obligation. A PLLC shall purchase, or cause to be purchased by a qualified person, the membership interest of any member and the financial rights of any holder of financial rights, at a price that represents the fair value of the membership interest or financial rights as of the date of the occurrence of the […]
§ 48-249-1112. Purchase Notice, Acceptance and Termination of Interest
Purchase notice. If a membership interest or financial rights is required to be purchased under § 48-249-1111, the PLLC shall deliver a written notice to the person who is entitled to receive payment in respect of the membership interest or financial rights under § 48-249-1111(a), offering to purchase the membership interest or financial rights at […]
§ 48-249-1113. Commencement of Fair Value Determination Proceeding
Right to commence proceeding. If the person who is entitled to receive payment in respect of a membership interest or financial rights under § 48-249-1111(a) does not accept the PLLC’s offer under § 48-249-1112(b), within the thirty-day period specified in § 48-249-1112(b), such person may, during the following thirty-day period, deliver a written notice to […]
§ 48-249-1017. Annual Report for Secretary of State
Required contents. Each domestic LLC and each foreign LLC authorized to transact business in this state shall file with the secretary of state an annual report that sets forth the following: The name of the domestic or foreign LLC and the jurisdiction under the laws of which it is formed; The street address and zip […]