This bill amends the existing law regarding professional limited liability companies (PLLCs) to allow a single-member PLLC to appoint an assistant manager who does not need to be 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 clarifies that while all managers and officers of a PLLC are generally required to be qualified persons, exceptions are made for the secretary, assistant secretary, treasurer, assistant treasurer, and the assistant manager in the case of a single-member PLLC.

The bill further stipulates that, unless otherwise stated in the operating agreement, the assistant manager may exercise the rights of the manager for up to one year following the manager's death, incapacity, or disqualification. However, it is important to note that the assistant manager is not authorized to perform any professional duties or exercise professional judgment related to the subject profession, and the provisions of this bill do not override any professional or ethical standards governing the profession. The act is set to take effect 60 days after its passage, on July 13, 2025.

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