| 1 | 1 | | Stricken language would be deleted from and underlined language would be added to present law. |
|---|
| 2 | 2 | | *JMB231* 02/20/2025 9:09:56 AM JMB231 |
|---|
| 3 | 3 | | State of Arkansas 1 |
|---|
| 4 | 4 | | 95th General Assembly A Bill 2 |
|---|
| 5 | 5 | | Regular Session, 2025 SENATE BILL 262 3 |
|---|
| 6 | 6 | | 4 |
|---|
| 7 | 7 | | By: Senator C. Penzo 5 |
|---|
| 8 | 8 | | By: Representative Pilkington 6 |
|---|
| 9 | 9 | | 7 |
|---|
| 10 | 10 | | For An Act To Be Entitled 8 |
|---|
| 11 | 11 | | AN ACT TO AMEND THE CORPORATE PRACTICE OF MEDICINE 9 |
|---|
| 12 | 12 | | DOCTRINE; TO AUTHORIZE A CURRENT LICENSED MEDICAL 10 |
|---|
| 13 | 13 | | PROFESSIONAL WHO OWNS A MEDICAL CORPORATION TO 11 |
|---|
| 14 | 14 | | MAINTAIN OWNERSHIP IF HIS OR HER MEDICAL LICENSE IS 12 |
|---|
| 15 | 15 | | NO LONGER ACTIVE OR HE OR SHE RETIRES; AND FOR OTHER 13 |
|---|
| 16 | 16 | | PURPOSES. 14 |
|---|
| 17 | 17 | | 15 |
|---|
| 18 | 18 | | 16 |
|---|
| 19 | 19 | | Subtitle 17 |
|---|
| 20 | 20 | | TO AMEND THE CORPORATE PRACTICE OF 18 |
|---|
| 21 | 21 | | MEDICINE DOCTRINE; AND TO AUTHORIZE A 19 |
|---|
| 22 | 22 | | LICENSED MEDICAL PROFESSIONAL WHO OWNS A 20 |
|---|
| 23 | 23 | | MEDICAL CORPORATION TO MAINTAIN 21 |
|---|
| 24 | 24 | | OWNERSHIP UPON AN INACTIVE LICENSE OR 22 |
|---|
| 25 | 25 | | RETIREMENT. 23 |
|---|
| 26 | 26 | | 24 |
|---|
| 27 | 27 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 25 |
|---|
| 28 | 28 | | 26 |
|---|
| 29 | 29 | | SECTION 1. Arkansas Code § 4 -29-307, concerning the officers, 27 |
|---|
| 30 | 30 | | directors, and shareholders of a medical corporation, is amended to add an 28 |
|---|
| 31 | 31 | | additional subsection to read as follows: 29 |
|---|
| 32 | 32 | | (c) Notwithstanding subsections (a) and (b) of this section, a person 30 |
|---|
| 33 | 33 | | who legally acquires ownership in a medical corporation while holding an 31 |
|---|
| 34 | 34 | | active license under the Arkansas Medical Practices Act, § 17 -95-201 et seq., 32 |
|---|
| 35 | 35 | | § 17-95-301 et seq., and § 17 -95-401 et seq., may retain ownership, 33 |
|---|
| 36 | 36 | | management, and control of the medical corporation after his or her license 34 |
|---|
| 37 | 37 | | becomes inactive or is voluntarily surrendered if all medical services are 35 |
|---|
| 38 | 38 | | provided only by individuals who are licensed. 36 |
|---|