Bill No. 2565, introduced by Representatives Osburn and Daniels, amends the existing law regarding limited liability partnerships (LLPs) in Oklahoma. The bill clarifies that a limited liability partnership is a type of partnership that can engage in any business permissible under state law, including professional services. It outlines the process for a partnership to become an LLP, which requires approval by the necessary vote and the filing of a statement of qualification with the Secretary of State. The bill also specifies the information that must be included in this statement, such as the partnership's name, address, and a declaration of its election to become an LLP.

Additionally, the bill establishes that no state officer or agency can classify a limited liability partnership as similar to a limited liability company, affirming that LLPs are distinct entities governed by partnership laws, while limited liability companies are governed by separate statutes. This distinction aims to clarify the legal status and treatment of these entities under Oklahoma law. The act is set to take effect on November 1, 2025.