H.B. 2126 would provide for the formation of a professional limited liability company (LLC) with the right to exercise all the powers of a professional association or corporation. The procedure involved parallels the procedure for forming a professional corporation. LLC liability for losses is limited to the amount a shareholder invests and its obligations are limited to its assets.
A conferee from the Kansas Board of Healing Arts expressed support for the bill.
The fiscal note indicates there would be a negligible fiscal impact on the Office of the Secretary of State.
1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/fulltext-bill.html.