John Wiik voted Yea (Passage) on this Legislation.
Title: Authorizes LLCs for Physical and Speech Therapists
Signed by Governor Kristi Noem
Title: Authorizes LLCs for Physical and Speech Therapists
Vote to pass a bill that authorizes LLC's for physical and speech therapists.
Defines “cooporation” and “incorporations” for companies of therapists (Sec. 1).
Authorizes one or more therapist of physical, speech, occupational may form a corporation (Sec. 2).
Establishes that corporations must be orgainized for their purposes and exercise the powers allowed by the state (Sec. 3).
Establishes that the name of the corporation must contain the words “professional company” or abbreviations (Sec. 4).
Authorizes that all shareholders must be licences in the state (Sec. 5).
Establishes that the president of the company must be a licensed share holder (Sec. 6).
Establishes that no individual is personally liable for the company (Sec. 7).
Authorizes the Secretary of State to certify companies and licences (Sec. 8).
Authorizes corporations to establish pensions, healthy insurence, or welfare for employees (Sec. 9).
Prohibits corporations from violating conduct established by their professions (Sec. 10).
Title: Authorizes LLCs for Physical and Speech Therapists
Title: Authorizes LLCs for Physical and Speech Therapists