Limited Liability Companies (LLC)

Limited Liability Companies (LLC)

Can a chiropractic physician form a limited liability company (LLC) for his or her practice?

As with any business structure, the Illinois Chiropractic Society strongly urges doctors to obtain specific legal counsel regarding business structures.  The following is designed to provide general information to educate our members.

Chiropractic physicians may form a limited liability company for the practice of medicine, as long as all the managers, if any, are licensed to practice medicine under the Medical Practice Act of 1987 (includes chiropractic physicians) and each member is either:

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(A) licensed to practice medicine under the Medical Practice Act of 1987, or (B) a registered medical corporation; or
(C) a registered professional corporation of physicians licensed to practice under the Medical Practice Act of 1987; or

(D) a limited liability company that satisfies the requirements of subparagraph (A), (B), or (C).

The LLC is formed by filing Articles of Organization with the Illinois Secretary of State.  All forms, including a guide for organizing an LLC, can be found on their website at www.cyberdriveillinois.com.  The guide is an excellent resource to walk organizers through the process and provides information regarding fees and additional filings, such as the annual report.
The name of the LLC must contain the terms “limited liability company”, “L.L.C.”, or “LL.”  It must consist of letters of the English alphabet, Arabic or Roman numerals, or symbols capable of being readily reproduced by the Office of the Secretary of State.  It may NOT contain any of the following terms: “Corporation,” “Corp.,” “Incorporated,” “Inc.,” “Ltd.,” “Co.,” “Limited Partnership” or “L.P.”

Once the LLC has been formed by the Secretary of State, it must be registered with the Illinois Department of Financial and Professional Regulation. This license is in the name of the LLC and is a separate license from those of the LLC member-owners. Application for such registration is made in writing to the IDFPR on its own form, which may be found on the IDFPR website at www.idfpr.com.  On the list of professions, click Limited Liability Company for all forms and information.  The fee is $50.  The LLC license expires at the end of each calendar year and must be renewed prior to the beginning of each year at the rate of $40 per year. The certificate of registration must be conspicuously posted upon the premises to which it is applicable, and the limited liability company shall have only those offices which are designated by street address in the articles of organization, or as changed by amendment.

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ICS Staff

The Illinois Chiropractic Society staff works collaboratively on many topics to bring the most comprehensive and relevant information to our members. We have over 60 years of chiropractic experience and understand the heartbeat of the profession. We all look forward to providing relevant information to our members for years to come.

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