The bill amends the Corporate Practice of Medicine Doctrine in Arkansas, specifically addressing the ownership of medical corporations by licensed medical professionals. It introduces a new provision that allows individuals who own a medical corporation and hold an active medical license to maintain their ownership, management, and control of the corporation even if their license becomes inactive or is voluntarily surrendered. This provision is contingent upon the requirement that all medical services provided by the corporation must be delivered by licensed individuals.

The new legal language added to Arkansas Code 4-29-307 clarifies that despite existing regulations regarding the officers, directors, and shareholders of a medical corporation, licensed medical professionals can retain their ownership status under certain conditions. This change aims to provide greater flexibility for medical professionals who may retire or have their licenses become inactive while ensuring that patient care remains in the hands of qualified, licensed practitioners.

Statutes affected:
Old version SB262 V2 - 4-7-2025 02:26 PM: 4-29-307
Old version SB262 Original - 2-20-2025 09:48 AM: 4-29-307
SB 262: 4-29-307