The proposed bill seeks to amend the Corporate Practice of Medicine Doctrine in Arkansas, specifically allowing licensed medical professionals who own a medical corporation to retain ownership even if their medical license becomes inactive or if they retire. This change is intended to provide greater flexibility for medical professionals in managing their corporations without the immediate need for an active license, as long as all medical services are provided by licensed individuals.

To implement this change, the bill introduces a new subsection to Arkansas Code 4-29-307, which states that a person who acquires ownership in a medical corporation while holding an active medical license may maintain ownership, management, and control of the corporation after their license becomes inactive or is voluntarily surrendered. This provision aims to ensure that the ownership structure of medical corporations can remain stable, while still adhering to regulations that require licensed professionals to provide medical services.

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