As of January 1, 1999, Professional Corporations will cease to exist and will be replaced by Professional Firms.
A doctor of chiropractic who wishes to incorporate their practice or provide chiropractic services under the protection of Minnesota Statutes 319B, either alone or in conjunction with other professionals, must register the corporation as a Professional Firm with the Board as well as the Secretary of States Office
. This requirement is in addition to any other forms of incorporation the professional may wish to engage in. Previously, such registration was required under the Professional Corporation Act (MN Statutes 319A.01-.22)
and would not allow for interdisciplinary incorporation (incorporation with health care professionals other than doctors of chiropractic.) Recently, the professional Corporation Act was revised, and has become the Professional Firms Act of 1997 (MN Statutes 319B.01-319B.12.)
As of January 1, 1999, the Professional Corporations act will be phased out, and professionals will be incorporated under the Professional Firms Act.
If you have recently filed a new application with the MBCE as a professional corporation, or if you have recently renewed your professional corporation, you need do nothing. The MBCE will administratively modify your registration as of January 1, 1999.
As of the date of this notice, no further applications will be accepted by the MBCE for registration of new Professional Corporations. Instead, applications will be accepted for those persons wishing to organize under the Professional Firms Act. There is no difference in fees between the new Professional Firms act and the previous Professional Corporations Act. Beyond the information provided in this notice, the MBCE will not provide any legal advice. Any persons wishing to acquire more information with regard to this subject are encouraged to contact private legal counsel.
There are several restrictions that licensees should be aware of:
The name of a professional firm must not imply or be used to imply superiority;
The owners or decision makers (known as governance authority) must be comprised of persons licensed to practice the professions specifically designated in Chapter 319B; and
The Firm may only use (depending on the specific type of registration) the following types of designations;
Professional Corporation, Professional Service Corporation, Service Corporation, Professional Association, Chartered, Limited, P.C., PS.C., S.C., P.A., Ltd., Professional Limited Liability Company, Limited Liability Company, P.L.L.C., P.L.C., L.L.C., Professional Limited Liability Partnership, Limited Liability Partnership, P.L.L.P, L.L.P.
NOTE: A permitted abbreviation may omit the periods.
PERSONS INTERESTED IN FORMING SUCH AN ENTITY ARE ENCOURAGED TO CONSULT PRIVATE LEGAL COUNSEL.
You may acquire Initialapplication forms
through this website or by calling the Board office at (651) 201-2850. NOTE: SPECIAL PROVISIONS PERTAINING TO A WAIVER OF SUCH RENEWAL REQUIREMENTS FOR MILITARY PERSONNEL WHO ARE, OR HAVE RECENTLY BEEN, ACTIVELY DEPLOYED MAY BE FOUND AT 326.55
If any part of the above information conflicts with the Minnesota rules or laws, the rules or laws take precedence. (See Hyperlinks) It is your responsibility to understand and comply with the regulations. Please call the Board office at 651-201-2850 if you have any questions.