§466-7  Permits to practice.  [See
effect of amendment note below.]  (a)  A license and permit are required to
actively engage in the practice of public accountancy.  The board may grant or
renew a permit to actively engage in the practice of public accountancy. 
Permits shall be initially issued and renewed for periods of two years but in
any event shall expire on December 31 of every odd-numbered year.  The board
shall prescribe the methods and requirements for application.



(b)  An applicant for the initial issuance or
renewal of a permit shall have:



(1)  A valid license;



(2)  Completed continuing professional education
hours, the content of which shall be specified by the board which may provide
for special consideration by the board to applicants for permit renewal when,
in the judgment of the board, full compliance with all requirements of
continuing education cannot reasonably be met;



(3)  Completed an application; and



(4)  Paid appropriate fees and assessments.



(c)  The board may grant a temporary permit to
actively engage in the practice of public accountancy to any person who:



(1)  Has attained eighteen years of age;



(2)  Possesses a history of competence,
trustworthiness, and fair dealing;



(3)  Holds a valid license of certified public
accountant or of public accountant issued under the laws of another state, or
who holds a valid comparable certificate, registration, or license or degree
from a foreign country determined by the board to be a recognized qualification
for the practice of public accountancy in such other country;



(4)  Incidental to the person's practice in such other
state or country, desires to practice public accountancy in this State on a
temporary basis; and



(5)  Has completed an application.



Such permit shall be effective for a period not
exceeding three months, and shall specify the nature and extent of the practice
so permitted.



(d)  Failure to submit the required fees,
continuing education hours, or other requirements for renewal as specified in
this section by December 31 of every odd-numbered year, shall constitute
forfeiture of the permit.  Continued performance in the practice of public
accountancy without a permit shall constitute unlicensed activity and the
individual shall be subject to sections 466-9, 466-11, 487-13, and 26-9.



(e)  The board may restore forfeited permits to
the individual who satisfies the following:



(1)  The requirements of subsection (a), (b), or (c);
and



(2)  Payment of required fees. [L 1973, c 158, pt of
§2; am L 1975, c 118, §30(3); am L 1980, c 53, §2; gen ch 1985; am L 1989, c
110, §8; am L 2009, c 172, §2]



 



Note



 



  Effect of amendment.  The L 2009, c 172 amendment is
effective until one hundred eighty days after the effective date of rules
relating to permits for firms to practice public accountancy; report to 2010
legislature, etc. L 2009, c 172, §§4 to 7, and 9.