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09.24.04.00.htm 09.24.04.00. Title 09 MARYLAND DEPARTMENT OF LABOR Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 04 Firm Permits and Ownership Authority: Business Occupations and Professions Article, §2-207 and 2-401―2-403, Annotated Code of Maryland
09.24.04.01.htm 09.24.04.01. 01 Permits.. Except sole proprietorships, any firm in which certified public accountancy is practiced shall have a permit issued by the Board under the requirements in Business Occupations and Professions Article, Title 2, Subtitle 4, Annotated Code of Maryland.
09.24.04.02.htm 09.24.04.02. 02 Ownership Interest.. A majority of the ownership interest, in terms of financial interests and voting rights, of a firm in which certified public accountancy is practiced shall be owned by individuals licensed to practice certified public accountancy in this State or another state.
09.24.04.03.htm 09.24.04.03. 03 Registration of the Firm.. Any firm in which certified public accountancy is practiced shall designate and identify to the Board an individual licensed to practice certified public accountancy in this State who shall be responsible for the proper registration of the firm and communication with the Board.
09.24.04.04.htm 09.24.04.04. 04 Nonlicensee Owners.. A. An individual not licensed to practice certified public accountancy may have an ownership interest in a firm in which certified public accountancy is practiced, if the individual is an active participant in the business of the firm or its affiliated entities.B. To determine whether a nonlicensee owner is an active participant in the business of the firm or its affiliated entities, the Board shall consider the:1) Number of hours the no
09.24.04.9999.htm 09.24.04.9999. Administrative History Effective date: September 29, 2003 (30:19 Md. R. 1331). Regulation .04 amended effective May 18, 2009 (36:10 Md. R. 716).
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