West Virginia Code of State Rules
Agency 32 - Acupuncture
Title 32 - LEGISLATIVE RULE BOARD OF ACUPUNCTURE
Series 32-13 - Formation And Approval Of Professional Limited Liability Companies
Section 32-13-3 - Procedures for Formation and Approval of Professional Limited Liability Companies for Acupuncturists. Fees

Universal Citation: 32 WV Code of State Rules 32-13-3

Current through Register Vol. XLI, No. 38, September 20, 2024

3.1. Acupuncturists licensed to practice acupuncture in an active status in this State who desire to render acupuncture and oriental medical services as a limited liability company shall comply with the provisions of W. Va. Code '31B-13-1301 et seq. No professional limited liability company shall have as a member anyone other than a person who is duly licensed or otherwise legally authorized to render the professional services for which the professional limited liability company was organized.

3.2. The name of a professional limited liability company shall contain the words Aprofessional limited liability company@ or the abbreviation AP.L.L.C.@ or AProfessional L. L. C.@

3.3. Every professional limited liability company shall file with the Board at the time of formation, and on an annual basis on or before the first day of July, the names of its two or more members, and written documentation that the professional limited liability company carries at least one million dollars of professional liability insurance, together with an initial filing fee of $100.00 and annual renewal fee of $100.

3.3.a. The requirement of carrying one million dollars of professional liability insurance is satisfied if the professional limited liability company provides one million dollars of funds specifically designated and segregated for the satisfaction of judgements against the company members or any of its professional or nonprofessional services to patients or clients of the company, by:

3.3.a.1. Deposit in trust or in bank escrow of cash, a bank certificate of deposit or United States treasury obligations; or

3.3.a.2. A bank letter of credit or insurance company bond.

3.4. Every limited liability company shall file with the Board a copy of the annual report required to be filed with the Secretary of State under W. Va. Code '31B-2-211. The copy of the annual report, and a copy of any corrected annual report filed with the Secretary of State, shall be filed with the Board on or before the first day of July on an annual basis.

3.5. Every professional limited liability company in compliance with all the provisions of this rule shall be approved by and remain approved by the Board.

3.6. If any licensee ceases to be a member of any professional limited liability company, the company shall notify the Board in writing within twenty days therefrom that the licensee has ceased to be a member of a professional limited liability company. The fact that a licensee ceases to be a member of a professional limited liability company shall not affect the approval of such professional limited liability company by the Board, provided that the Board determines that the professional limited liability company remains in compliance with all the provision of this rule.

Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

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