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lwpat
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25386
Experience:  Attorney with over 35 years of business experience.
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Hi, we are 2 midwives (CPMs) licensed by the State of TN and

Customer Question

Hi, we are 2 midwives (CPM's) licensed by the State of TN and are starting a homebirth business together.
We cannot carry malpractice ins. Is it possible to run this venture as a LLC? Any other way to iimit pers. liability? Thanks so much for your advice.
Submitted: 7 years ago via LawDepot.
Category: Business Law
Expert:  lwpat replied 7 years ago.
An LLC is probably your best option. You can set it up yourself by going to the Tenn Secretary of State website. It is a fairly simple process and then you get an EIN number. I want to stress that you absolutely need an operating agreement. Getting into business with someone is easy but getting out can be very difficult. Here are some samples

http://www.docstoc.com/search/LLC-operating-agreement/?catfilter=1


Since you cannot carry malpractice insurance you may want to draw up an agreement for your clients to sign. For this I suggest a local malpractice attorney or possibly you can copy one from someone.

Please advise if my answer is acceptable