Q: I had a question about corporate governance - professional association (PA) vs LLC in florida
I'm part of a non-physician-owned group that acquired a professional association in a stock purchase with another LLC. I got feedback that an LLC cannot own a PA. Do I need to change the PA entity - articles of incorporation, etc.
A: The central issue is not the PA, per se. It is splitting the fees. In general, physicians are prohibited to split fees with non-physicians. A few exceptions exist. One of them is exception to corporate practice where they do not hold out to the public as health care clinic. Some of the examples are employer sponsored health plans and school health programs.
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