5150. An accountancy corporation is a corporation which is
registered with the California Board of Accountancy and has a
currently effective certificate of registration from the board
pursuant to the Moscone-Knox Professional Corporation Act, as
contained in Part 4 (commencing with Section 13400) of Division 3 of
Title 1 of the Corporations Code, and this article. Subject to all
applicable statutes, rules and regulations, an accountancy
corporation is entitled to practice accountancy. With respect to an
accountancy corporation, the governmental agency referred to in the
Moscone-Knox Professional Corporation Act is the California Board of
Accountancy.
5151. An applicant for registration as an accountancy corporation
shall supply to the board all necessary and pertinent documents and
information requested by the board concerning the applicant's plan of
operation. The board may provide forms of application. If the board
finds that the corporation is duly organized and existing under the
General Corporation Law or the foreign corporation is duly qualified
for the transaction of intrastate business pursuant to the General
Corporation Law, that, except as otherwise permitted under Section
5053 or 5079, each officer, director, shareholder, or employee who
will render professional services is a licensed person as defined in
the Moscone-Knox Professional Corporation Act, or a person licensed
to render the same professional services in the jurisdiction or
jurisdictions in which the person practices, and that from the
application it appears that the affairs of the corporation will be
conducted in compliance with law and the rules and regulations of the
board, the board shall upon payment of the registration fee in the
amount as it may determine, issue a certificate of registration. The
applicant shall include with the application for each shareholder of
the corporation licensed in a foreign country but not in this state
or in any other state, territory, or possession of the United States,
a certificate from the authority in the foreign country currently
having final jurisdiction over the practice of accounting, which
shall verify the shareholder's admission to practice in the foreign
country, the date thereof, and the fact that the shareholder is
currently in good standing as the equivalent of a certified public
accountant or public accountant. If the certificate is not in
English, there shall be included with the certificate a duly
authenticated English translation thereof. The application shall be
signed and verified by an officer of the corporation.
5152. Each accountancy corporation shall file with the board at the
times the board may require a report containing information
pertaining to qualification and compliance with the statutes, rules
and regulations of the board as the board may determine. All reports
shall be signed and verified by an officer of the corporation.
5152.1. Each accountancy corporation shall renew its permit to
practice biennially and shall pay the renewal fee fixed by the board
in accordance with Section 5134.
5154. Except as provided in Section 5079 of this code and in
Section 13403 of the Corporations Code, each director, shareholder,
and officer of an accountancy corporation shall be a licensed person
as defined in the Moscone-Knox Professional Corporation Act, or a
person licensed to render the same professional services in the
jurisdiction or jurisdictions in which the person practices.
5155. The income of an accountancy corporation attributable to
professional services rendered while a shareholder is a disqualified
person (as defined in the Moscone-Knox Professional Corporation Act)
shall not in any manner accrue to the benefit of such shareholder or
his shares in the accountancy corporation.
5156. An accountancy corporation shall not do or fail to do any act
the doing of which or the failure to do which would constitute
unprofessional conduct under any statute, rule or regulation now or
hereafter in effect. In the conduct of its practice, it shall observe
and be bound by such statutes, rules and regulations to the same
extent as a person holding a permit under Section 5070 of this code.
The board shall have the same powers of suspension, revocation and
discipline against an accountancy corporation as are now or hereafter
authorized by Section 5100 of this code, or by any other similar
statute against individual licensees, provided, however, that
proceedings against an accountancy corporation shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and the board shall
have all the powers granted therein.
5157. The board may formulate and enforce rules and regulations to
carry out the purposes and objectives of this article, including
rules and regulations requiring (a) that the articles of
incorporation or bylaws of an accountancy corporation shall include a
provision whereby the capital stock of such corporation owned by a
disqualified person (as defined in the Moscone-Knox Professional
Corporation Act), or a deceased person, shall be sold to the
corporation or to the remaining shareholders of such corporation
within such time as such rules and regulations may provide, and (b)
that an accountancy corporation as a condition of obtaining a
certificate pursuant to the Moscone-Knox Professional Corporation Act
and this article shall provide adequate security by insurance or
otherwise for claims against it by its clients arising out of the
rendering of professional services.
5158. Each office of an accountancy corporation engaged in the
practice of public accountancy in this state shall be managed by a
certified public accountant or public accountant.
5150. An accountancy corporation is a corporation which is
registered with the California Board of Accountancy and has a
currently effective certificate of registration from the board
pursuant to the Moscone-Knox Professional Corporation Act, as
contained in Part 4 (commencing with Section 13400) of Division 3 of
Title 1 of the Corporations Code, and this article. Subject to all
applicable statutes, rules and regulations, an accountancy
corporation is entitled to practice accountancy. With respect to an
accountancy corporation, the governmental agency referred to in the
Moscone-Knox Professional Corporation Act is the California Board of
Accountancy.
5151. An applicant for registration as an accountancy corporation
shall supply to the board all necessary and pertinent documents and
information requested by the board concerning the applicant's plan of
operation. The board may provide forms of application. If the board
finds that the corporation is duly organized and existing under the
General Corporation Law or the foreign corporation is duly qualified
for the transaction of intrastate business pursuant to the General
Corporation Law, that, except as otherwise permitted under Section
5053 or 5079, each officer, director, shareholder, or employee who
will render professional services is a licensed person as defined in
the Moscone-Knox Professional Corporation Act, or a person licensed
to render the same professional services in the jurisdiction or
jurisdictions in which the person practices, and that from the
application it appears that the affairs of the corporation will be
conducted in compliance with law and the rules and regulations of the
board, the board shall upon payment of the registration fee in the
amount as it may determine, issue a certificate of registration. The
applicant shall include with the application for each shareholder of
the corporation licensed in a foreign country but not in this state
or in any other state, territory, or possession of the United States,
a certificate from the authority in the foreign country currently
having final jurisdiction over the practice of accounting, which
shall verify the shareholder's admission to practice in the foreign
country, the date thereof, and the fact that the shareholder is
currently in good standing as the equivalent of a certified public
accountant or public accountant. If the certificate is not in
English, there shall be included with the certificate a duly
authenticated English translation thereof. The application shall be
signed and verified by an officer of the corporation.
5152. Each accountancy corporation shall file with the board at the
times the board may require a report containing information
pertaining to qualification and compliance with the statutes, rules
and regulations of the board as the board may determine. All reports
shall be signed and verified by an officer of the corporation.
5152.1. Each accountancy corporation shall renew its permit to
practice biennially and shall pay the renewal fee fixed by the board
in accordance with Section 5134.
5154. Except as provided in Section 5079 of this code and in
Section 13403 of the Corporations Code, each director, shareholder,
and officer of an accountancy corporation shall be a licensed person
as defined in the Moscone-Knox Professional Corporation Act, or a
person licensed to render the same professional services in the
jurisdiction or jurisdictions in which the person practices.
5155. The income of an accountancy corporation attributable to
professional services rendered while a shareholder is a disqualified
person (as defined in the Moscone-Knox Professional Corporation Act)
shall not in any manner accrue to the benefit of such shareholder or
his shares in the accountancy corporation.
5156. An accountancy corporation shall not do or fail to do any act
the doing of which or the failure to do which would constitute
unprofessional conduct under any statute, rule or regulation now or
hereafter in effect. In the conduct of its practice, it shall observe
and be bound by such statutes, rules and regulations to the same
extent as a person holding a permit under Section 5070 of this code.
The board shall have the same powers of suspension, revocation and
discipline against an accountancy corporation as are now or hereafter
authorized by Section 5100 of this code, or by any other similar
statute against individual licensees, provided, however, that
proceedings against an accountancy corporation shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and the board shall
have all the powers granted therein.
5157. The board may formulate and enforce rules and regulations to
carry out the purposes and objectives of this article, including
rules and regulations requiring (a) that the articles of
incorporation or bylaws of an accountancy corporation shall include a
provision whereby the capital stock of such corporation owned by a
disqualified person (as defined in the Moscone-Knox Professional
Corporation Act), or a deceased person, shall be sold to the
corporation or to the remaining shareholders of such corporation
within such time as such rules and regulations may provide, and (b)
that an accountancy corporation as a condition of obtaining a
certificate pursuant to the Moscone-Knox Professional Corporation Act
and this article shall provide adequate security by insurance or
otherwise for claims against it by its clients arising out of the
rendering of professional services.
5158. Each office of an accountancy corporation engaged in the
practice of public accountancy in this state shall be managed by a
certified public accountant or public accountant.
5150. An accountancy corporation is a corporation which is
registered with the California Board of Accountancy and has a
currently effective certificate of registration from the board
pursuant to the Moscone-Knox Professional Corporation Act, as
contained in Part 4 (commencing with Section 13400) of Division 3 of
Title 1 of the Corporations Code, and this article. Subject to all
applicable statutes, rules and regulations, an accountancy
corporation is entitled to practice accountancy. With respect to an
accountancy corporation, the governmental agency referred to in the
Moscone-Knox Professional Corporation Act is the California Board of
Accountancy.
5151. An applicant for registration as an accountancy corporation
shall supply to the board all necessary and pertinent documents and
information requested by the board concerning the applicant's plan of
operation. The board may provide forms of application. If the board
finds that the corporation is duly organized and existing under the
General Corporation Law or the foreign corporation is duly qualified
for the transaction of intrastate business pursuant to the General
Corporation Law, that, except as otherwise permitted under Section
5053 or 5079, each officer, director, shareholder, or employee who
will render professional services is a licensed person as defined in
the Moscone-Knox Professional Corporation Act, or a person licensed
to render the same professional services in the jurisdiction or
jurisdictions in which the person practices, and that from the
application it appears that the affairs of the corporation will be
conducted in compliance with law and the rules and regulations of the
board, the board shall upon payment of the registration fee in the
amount as it may determine, issue a certificate of registration. The
applicant shall include with the application for each shareholder of
the corporation licensed in a foreign country but not in this state
or in any other state, territory, or possession of the United States,
a certificate from the authority in the foreign country currently
having final jurisdiction over the practice of accounting, which
shall verify the shareholder's admission to practice in the foreign
country, the date thereof, and the fact that the shareholder is
currently in good standing as the equivalent of a certified public
accountant or public accountant. If the certificate is not in
English, there shall be included with the certificate a duly
authenticated English translation thereof. The application shall be
signed and verified by an officer of the corporation.
5152. Each accountancy corporation shall file with the board at the
times the board may require a report containing information
pertaining to qualification and compliance with the statutes, rules
and regulations of the board as the board may determine. All reports
shall be signed and verified by an officer of the corporation.
5152.1. Each accountancy corporation shall renew its permit to
practice biennially and shall pay the renewal fee fixed by the board
in accordance with Section 5134.
5154. Except as provided in Section 5079 of this code and in
Section 13403 of the Corporations Code, each director, shareholder,
and officer of an accountancy corporation shall be a licensed person
as defined in the Moscone-Knox Professional Corporation Act, or a
person licensed to render the same professional services in the
jurisdiction or jurisdictions in which the person practices.
5155. The income of an accountancy corporation attributable to
professional services rendered while a shareholder is a disqualified
person (as defined in the Moscone-Knox Professional Corporation Act)
shall not in any manner accrue to the benefit of such shareholder or
his shares in the accountancy corporation.
5156. An accountancy corporation shall not do or fail to do any act
the doing of which or the failure to do which would constitute
unprofessional conduct under any statute, rule or regulation now or
hereafter in effect. In the conduct of its practice, it shall observe
and be bound by such statutes, rules and regulations to the same
extent as a person holding a permit under Section 5070 of this code.
The board shall have the same powers of suspension, revocation and
discipline against an accountancy corporation as are now or hereafter
authorized by Section 5100 of this code, or by any other similar
statute against individual licensees, provided, however, that
proceedings against an accountancy corporation shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and the board shall
have all the powers granted therein.
5157. The board may formulate and enforce rules and regulations to
carry out the purposes and objectives of this article, including
rules and regulations requiring (a) that the articles of
incorporation or bylaws of an accountancy corporation shall include a
provision whereby the capital stock of such corporation owned by a
disqualified person (as defined in the Moscone-Knox Professional
Corporation Act), or a deceased person, shall be sold to the
corporation or to the remaining shareholders of such corporation
within such time as such rules and regulations may provide, and (b)
that an accountancy corporation as a condition of obtaining a
certificate pursuant to the Moscone-Knox Professional Corporation Act
and this article shall provide adequate security by insurance or
otherwise for claims against it by its clients arising out of the
rendering of professional services.
5158. Each office of an accountancy corporation engaged in the
practice of public accountancy in this state shall be managed by a
certified public accountant or public accountant.
