This bill amends the existing law regarding professional limited liability companies (PLLCs) to allow a single-member PLLC to designate an assistant manager who is not a qualified person. This provision is specifically applicable in situations where the manager of the PLLC has died, become incapacitated, or is disqualified. The new legal language inserted into RSA 304-D:12 clarifies that while all managers and officers of a PLLC must generally be qualified persons, exceptions are made for the assistant manager in single-member PLLCs. The assistant manager is granted the authority to exercise the manager's rights for up to one year following the manager's death, incapacity, or disqualification, provided that the operating agreement does not state otherwise.

Additionally, the bill emphasizes that the assistant manager is not permitted to perform any professional duties or exercise professional judgment related to the subject profession, ensuring compliance with professional and ethical standards. The effective date of this act is set for 60 days after its passage, which is July 13, 2025.

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