1 STATE OF OKLAHOMA
1
2 1st Session of the 59th Legislature (2023)
2
3 SENATE BILL 620 By: Montgomery
3
4
4
5
5
6 AS INTRODUCED
6
7 An Act relating to the Professional Entity Act;
7 amending 18 O.S. 2021, Section 809, which relates to
8 license requirement; modifying requirements for
8 persons holding interest in domestic professional
9 entity; prohibiting a person not duly licensed from
9 holding shares in certain professional corporations;
10 providing exception; and providing effective date.
10
11
11
12
12
13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
13
14 SECTION 1. AMENDATORY 18 O.S. 2021, Section 809, is
14
15 amended to read as follows:
15
16 Section 809. Except as provided in Section 815 of this title,
16
17 no person shall hold an interest in a domestic professional entity
17
18 including a domestic professional entity that owns a domestic
18
19 professional entity rendering professional service, who is not duly
19
20 licensed or otherwise permitted in accordance with the provisions of
20
21 this state’s licensing laws for the profession or related profession
21
22 to render the same professional services or related professional
22
23 services as those for which the entity is organized. No person may
23
24 be a shareholder of a professional corporation who is not an
24
Req. No. 493 Page 1
 1 individual duly licensed or otherwise permitted to render the same
1
2 professional services or related professional services as those for
2
3 which the corporation is organized. An owner of a qualified foreign
3
4 professional entity shall not be required to be duly licensed if he
4
5 or she does not render professional services in this state.
5
6 SECTION 2. This act shall become effective November 1, 2023.
6
7
7
8 59-1-493 TEK 1/17/2023 8:14:56 PM
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
23
24
24
Req. No. 493 Page 2