Michigan – HB 4334, effective October 15, amends the Limited Liability Company Act regarding public accounting

October 23, 2013

House Bill 4334 (Public Act No. 131) signed by the governor and effective October 15 amends the Michigan Limited Liability Company Act to permit a professional limited liability company to practice public accounting if more than 50% of the PLLC’s equity and voter rights were held directly or beneficially by individuals licensed or otherwise authorized to practice public accounting under Article 7 of the Occupational Code. The bill text can be accessed here.