A partnership engaged in this state in the practice of public accounting shall register with the board as a partnership of certified public accountants or accounting practitioners and shall meet the following requirements:
1. At least one general partner shall be a certified public accountant or accounting practitioner in good standing of this state and have a permit to practice.
2. Each partner shall be a certified public accountant or accounting practitioner, or similar title, in good standing of some state.
3. Each resident manager in charge of an office of a firm in this state, and each partner personally engaged within this state in the practice of public accounting as a member of the partnership, shall be a certified public accountant or accounting practitioner in good standing of this state and have a permit to practice.
A corporation organized for the practice of public accounting shall register with the board as a corporation of certified public accountants or accounting practitioners. A limited liability company organized for the practice of public accounting shall register with the board as a limited liability company of certified public accountants or accounting practitioners.
Application for registration as a partnership, corporation, or limited liability company shall be made upon the affidavit of a general partner of the partnership, officer of the corporation, or manager of the limited liability company who is a certified public accountant or accounting practitioner of this state having a current permit to practice.
The board shall in every case determine whether the applicant is eligible for registration.
A partnership, corporation, or limited liability company which is so registered, and which holds a permit issued under section 542C.20, may use the words "certified public accountant" or the abbreviation "CPA" or "accounting practitioner" or the abbreviation "AP" in connection with its partnership, corporation, or limited liability company name.
Notification shall be given the board, within ninety days after the admission or withdrawal of a partner who holds a permit to practice under section 542C.20, from any partnership so registered.
[C75, 77, 79, 81, § 116.18]
C93, § 542C.18
93 Acts, ch 19, §4
Referred to in § 542C.20, 542C.25
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