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STATE OF OKLAHOMA
1st Session of the 59th Legislature (2023)
SENATE BILL 620 By: Montgomery
AS INTRODUCED
An Act relating to the Professional Entit y Act;
amending 18 O.S. 2021, Section 809, which relates to
license requirement; modifying r equirements for
persons holding interest in do mestic professional
entity; prohibiting a person not duly licensed from
holding shares in certain pro fessional corporations;
providing exception; and providing effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 18 O.S. 2021, Section 809, is
amended to read as follows:
Section 809. Except as provided in Section 815 of this title,
no person shall hold an interest in a domestic professional entity
including a domestic professional entity that owns a domestic
professional entity rend ering professional service, who is not duly
licensed or otherwise permitted in accordance with the provisi ons of
this state’s licensing laws for the professi on or related profession
to render the same professional services or related professional
services as those for which the entity is orga nized. No person may
be a shareholder of a professional corporation who is not an
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individual duly licensed or otherwise permitted to render the same
professional services or related professional services as those for
which the corporation is organized. A n owner of a qualified foreign
professional entity shall not be required to be duly licensed if he
or she does not rende r professional services in this state.
SECTION 2. This act shall become effective November 1, 2023.
59-1-493 TEK 1/17/2023 8:14:56 PM