§ 7-12-31.1 - Nature of business. - Rhode Island Statutes

SECTION 7-12-31.1

   § 7-12-31.1  Nature of business. – (a) Except as provided in subsection (b) of this section, a registered limitedliability partnership or a foreign registered limited liability partnership mayconduct any lawful business in this state.

   (b) A registered limited liability partnership or a foreignregistered limited liability partnership may render professional services, asdefined in § 7-5.1-2(1), as and to the extent permitted under law or rulesand regulations of the applicable regulatory agency or agencies, as defined in§ 7-5.1-2(2). Each regulatory agency as so defined is authorized to adopt,subject to applicable law, rules and regulations regarding a domestic andforeign limited liability partnership rendering professional services. Therules and regulations shall not be inconsistent with law or rules orregulations regarding the rendering of professional services through aprofessional corporation.