This bill amends existing law to allow a single-member professional limited liability company (PLLC) to appoint an assistant manager who is not a qualified person to manage the company in the event of the manager's death, incapacity, or disqualification. The amendment specifies that the assistant manager may manage the PLLC for up to one year following such an event, but they are not authorized to perform professional duties or exercise professional judgment related to the company's field of practice. The bill also clarifies that this provision does not override any professional or ethical standards applicable to the profession.

The bill introduces insertions to the current law, specifying exceptions to the requirement that managers and officers of a PLLC must be qualified persons. These exceptions now include the secretary or an assistant secretary, the treasurer or an assistant treasurer, and the assistant manager in the case of a single-member PLLC. Deletions from the current law remove the previous blanket requirement that all officers and managers must be qualified persons. The act is set to take effect 60 days after its passage.

Statutes affected:
Introduced: 304-D:12
As Amended by the House: 304-D:12