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.
October 23, 2013