Tennessee Professional Limited Liability Partnership Agreement to Practice Medicine
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How to fill out Professional Limited Liability Partnership Agreement To Practice Medicine?
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FAQ
Tennessee changes corporate practice of medicine to Permit Nursing Facilities to Employ Physicians. The Tennessee General Assembly passed important new legislation (Pub. Ch. 649, SB 3263) permitting nursing facilities and their affiliates to employ medical doctors to work in their facilities.
However, operating as a PC, LLP or LLC generally can protect you against personal liability for malpractice committed by another physician in the practice. (General partnerships do not offer this protection, while sole proprietorships do not need this protection.)
Limited Liability Partnership The partners of an LLP have more liability protection than partners of a general partnership, but they still have unlimited personal liability for obligations of the practice.
The Opinion states that, as a general rule, no Non-Physician Practitioner may own and operate a medical professional corporation (MPC) or a medical professional limited liability company (MPLLC) for the provision of medical services.
General partners can be held liable for their debts and their partner's debts. Only a PC offers some liability protection for physicians in a group medical practice. Through a PC, doctors can protect themselves against personal liability for the contracts, leases, and other debts of the business.
A medical doctor cannot form a limited liability partnership in the State of California. A professional corporation is the business structure of choice for medical practice.
Advantages and Disadvantages of Medical Partnerships Possibility of taking more financial risks and making investments, compared to the independent practice. More freedom in choosing the hours of work, working part-time or full-time. Greater financial security.
