193A—8.4 (542) Failure to renew permit.
	 8.4(1) A firm that fails to renew the permit by the expiration date, but does so within 30 days following the expiration date, shall be assessed a penalty of 25 percent of the annual renewal fee.
	 8.4(2) If the firm fails to renew the permit within the 30-day grace period outlined in subrule 8.4(1), the permit will lapse and the firm shall be required to reinstate in accordance with subrule 8.4(3). The firm is not authorized to practice during the period of time that the permit is lapsed.
	 8.4(3) The board may reinstate the permit upon the payment of the proper renewal fee and a penalty of $100. The board shall also require a written statement outlining the firm’s professional activities during the period of lapsed registration.
	 8.4(4) The board may find probable cause to file charges for unlicensed practice if the firm continues to offer services defined as the practice of accounting while using the title “LPA” during the period of lapsed registration.