purpose for which a limited liability company is organized is subject to another provision of law, the company shall also comply with the other provision of law.8 Arizona A medical practice in Arizona may be owned by a professional corporation, a professional limited liability company or certain other types of entities. Arizona law permits PA ownership of such entities or co-ownership with physicians. A corporation may elect professional corporation status for the purpose of rendering professional services within two or more categories of professional service, unless the combination of professional purposes is expressly prohibited by a licensing law of the state applicable to one or more of the professions in the combination or by a licensing authority with jurisdiction over one or more of the professions in the combination.9 No such limitation exists precluding PAs and physicians from co-owning a professional corporation. Similar rules apply to professional limited liability companies.10 Under recent revisions to Arizona corporate statutes, up to 49% of the shares of a professional corporation or of the equity interests in professional limited liability companies may be owned by non-licensed persons or entities.11 Arkansas A medical practice in Arkansas may be owned by a professional corporation, a limited liability company or certain other types of entities. Under the Arkansas Professional Corporations Act, one or more persons duly and properly licensed to render the same type of professional services may form a professional corporation.12 With respect to medical practices, the Arkansas Medical Practices Act states that “one or more persons licensed pursuant to the [Act] may associate to form a corporation pursuant to the Arkansas Professional Corporations Act to own, operate and maintain a medical practice.� PAs are not licensed under the Medical Practices Act, but are licensed pursuant to other provisions of the Arkansas Code.13 A medical practice owned by a limited liability company in Arkansas must also comply with the Medical Practices Act.14 8
Id.
9
Arizona Revised Statutes Section 10-2211.
10
Arizona Revised Statutes Section 29-841.
11
Arizona Revised Statutes Section 10-2220(A)(4).
12
Arizona Revised Statutes Section 4-29-201.
13
Arizona Revised Statutes Section 4-29-33.
14
Arizona Revised Statutes Section 4-32-1401.
10 DLMR_628211.1