Chapter 319B — Minnesota Professional Firms Act

319B.01 Professional Firms Act; Citation This chapter is called the Minnesota Professional Firms Act. 319B.02 Definitions This section defines terms used in the Professional Firms Act, like professional firm, board, and pertinent professional … 319B.03 Authority of Minnesota Firms to Furnish Professional Services; Election to Invoke the Act Minnesota firms can elect to operate under this act to provide professional services. The election is filed with the … 319B.04 Authority of Foreign Firms to Furnish Professional Services; Election to Invoke the Act Out-of-state firms can also elect to operate under this act to provide professional services in Minnesota. 319B.05 Firm Name Professional firm names must not imply superiority and must end with the proper designation like P.A., Ltd., or LLC. 319B.06 Furnishing Services A professional firm can provide services in one or more categories if each owner meets the licensing requirements for … 319B.07 Ownership Interests Only licensed professionals and certain qualifying entities can own interests in a professional firm. 319B.08 Effect of Death or Disqualification of Owner If an owner dies or loses their license, the firm has 90 days to transfer that person's ownership or lose its … 319B.09 Governance A professional firm must be governed by licensed professionals. A surviving spouse of a sole owner can govern for up to … 319B.10 Mergers and Other Reorganizations Professional firms can merge, consolidate, or reorganize under their general business law. 319B.11 Professional Regulation Licensing boards can make rules for professional firms but cannot require owners to take on more personal liability than … 319B.12 Transition Provisions Existing professional corporations can transition to the Professional Firms Act without dissolving and re-forming. 319B.40 Professional Health Services Licensed health professionals like doctors, nurses, chiropractors, and dentists can practice together in combined …