2986

LAWS OF MARYLAND

Ch. 780

(2) AT LEAST 1 GENERAL PARTNER AND ANY OTHER PARTNER
WHO PRACTICES OR INTENDS TO PRACTICE ACCOUNTANCY IN THE STATE
SHALL BE LICENSED BY THE BOARD TO PRACTICE CERTIFIED PUBLIC
ACCOUNTANCY IN THE STATE.

2-403. SAME — CORPORATIONS.

(A)  IN GENERAL.

TO QUALIFY FOR A PERMIT, A CORPORATION SHALL MEET THE
REQUIREMENTS OF THIS SECTION.

(B)  COMPLIANCE WITH THE PROFESSIONAL SERVICE CORPORATION
ACT.

THE CORPORATION SHALL MEET THE APPLICABLE REQUIREMENTS OF
THE MARYLAND PROFESSIONAL SERVICE CORPORATION ACT, TITLE 5,
SUBTITLE 1 OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE.

(C)  RESIDENT OFFICE.
THE CORPORATION SHALL:

(1)  HAVE A PERMANENT OFFICE IN THE STATE FOR THE
PRACTICE OF CERTIFIED PUBLIC ACCOUNTANCY; OR

(2)  SUBMIT PROOF SATISFACTORY TO THE BOARD OF ITS
INTENT TO ESTABLISH IMMEDIATELY A PERMANENT OFFICE.

(D)  MANAGEMENT BY RESIDENT STOCKHOLDER.

THE PERMANENT OFFICE REQUIRED UNDER SUBSECTION (C) OF THIS
SECTION SHALL BE MANAGED BY A STOCKHOLDER OF THE CORPORATION WHO
RESIDES IN THE STATE.

2-404. APPLICATIONS.

(A)  IN GENERAL.

TO APPLY FOR A PERMIT, AN APPLICANT SHALL:

(1)  SUBMIT AN APPLICATION TO THE BOARD ON THE FORM
THAT THE BOARD PROVIDES; AND

(2)  PAY TO THE BOARD AN APPLICATION FEE OF $25.

(B)  CONTENTS OF APPLICATION FORM.

IN ADDITION TO ANY OTHER INFORMATION REQUIRED ON THE
APPLICATION FORM, THE FORM SHALL REQUIRE:

(1) FOR A PARTNERSHIP APPLICANT, A LIST OF EACH
PARTNER WHO PRACTICES OR WHO INTENDS TO PRACTICE ACCOUNTANCY IN
THE STATE; AND