This bill amends the existing law regarding professional limited liability companies (PLLCs) to allow single-member PLLCs to designate an assistant manager who is not a qualified person. The assistant manager can step in to manage the PLLC in the event of the manager's death, incapacity, or disqualification for a period of up to one year. The bill specifies that the assistant manager may exercise all rights held by the manager prior to the triggering event, but is not authorized to perform any professional duties or exercise professional judgment related to the subject profession.

The legal language changes include the insertion of provisions that clarify the role of the assistant manager in single-member PLLCs, while also maintaining that all other managers and officers must be qualified persons, with specific exceptions for the secretary, assistant secretary, treasurer, assistant treasurer, and the newly defined assistant manager. Additionally, the bill emphasizes that the assistant manager's authority does not override any professional or ethical standards governing the profession. The act is set to take effect 60 days after its passage.

Statutes affected:
Introduced: 304-D:12
Version adopted by both bodies: 304-D:12
CHAPTERED FINAL VERSION: 304-D:12