950 CMR, § 111.04

Current through Register 1533, October 25, 2024
Section 111.04 - Registered Professional Limited Liability Partnership
(1) A Limited Liability Partnership which renders professional services in the Commonwealth must register as a Registered Professional Limited Liability Partnership.
(2) In order to become a Registered Professional Limited Liability Partnership, a partnership shall file a registration with the Division executed by one or more partners and authorized by a majority of partners. The registration shall contain in the order provided herein:
(a) the federal employer identification number of the partnership;
(b) the name of the partnership;
(c) the street address of its principal office in the Commonwealth;
(d) a description of the professional service(s) in which the partnership is engaged;
(e) the name and business address, if different from the principal office location, of each partner who will render a professional service on behalf of the partnership in the Commonwealth; and
(f) a statement that the partnership has complied with any rule(s) of its regulating board relative to liability insurance or permissible alternatives.

The registration, in addition, may include:

(g) the name, and business address, if different from the principal office location, of each partner authorized to execute, acknowledge, deliver and record any recordable instrument purporting to affect any interest in real property; and
(h) the name and street address of its registered agent in the Commonwealth.

The registration must be accompanied by a certificate of the appropriate regulating board or boards indicating that each partner who renders a professional service on behalf of the partnership in the Commonwealth at the time of filing is duly licensed to render such service.

(3) The status of the Registered Professional Limited Liability Partnership is effective upon filing of the registration and payment of the required fee. The fee for filing the certificate of registration is $500.00.
(4) Every Registered Professional Limited Liability Partnership shall renew its registration by filing an annual report on or before the last day of February in each year following the year of registration. The report shall include all information required or allowed in the registration, contain a certification that each partner who renders a professional service on behalf of the partnership in the Commonwealth at the time of filing is duly licensed to render such service, be signed by at least one partner, and be accompanied by a fee of $500.00.
(5) A registered professional limited liability partnership may amend its registration by filing a certificate of amendment. The certificate of amendment shall be signed by at least one partner and set forth in the order provided herein:
(a) its federal employer identification number;
(b) the name of the limited liability partnership;
(c) the date of filing of the original registration;
(d) the names and business address, if different from the principal office location, of each partner authorized to execute, acknowledge, deliver and record any recordable instrument purporting to affect any interest in real property, if any; and
(e) the amendment.

The amendment is effective upon filing the certificate of amendment and payment of the required fee. The fee for filing the certificate of amendment is $100.00.

950 CMR, § 111.04