HARRY HUGHES, Governor

2987

(2) FOR A CORPORATE APPLICANT, A LIST OF ALL OF THE
SHAREHOLDERS OF THE CORPORATION.

2-405. ISSUANCE OF PERMIT.

(A)  NOTICE TO QUALIFIED APPLICANT.

IF AN APPLICANT QUALIFIES FOR A PERMIT UNDER THIS SUBTITLE,
THE BOARD SHALL SEND THE APPLICANT A NOTICE THAT STATES:

(1)  THE APPLICANT HAS QUALIFIED FOR A PERMIT; AND

(2)  ON RECEIPT OF A $25 PERMIT FEE, THE BOARD WILL
ISSUE A PERMIT TO THE APPLICANT.

(B)  ISSUANCE.

ON PAYMENT OF THE PERMIT FEE, THE BOARD SHALL ISSUE A PERMIT
TO EACH APPLICANT THAT MEETS THE REQUIREMENTS OF THIS SUBTITLE.

2-406. SCOPE OF PERMIT.

(A)  IN GENERAL.

SUBJECT TO SUBSECTION (B) OF THIS SECTION, A PERMIT, WHILE
IT IS EFFECTIVE, AUTHORIZES THE HOLDER TO OPERATE A BUSINESS:

(1)  THROUGH WHICH THE PRACTICE OF CERTIFIED PUBLIC
ACCOUNTANCY IS CONDUCTED; AND

(2)  THAT MAY REPRESENT TO THE PUBLIC THAT IT PROVIDES
THE SERVICES OF A LICENSED CERTIFIED PUBLIC ACCOUNTANT.

(B)  PRACTICE LIMITED TO AUTHORIZED INDIVIDUALS.

A PERMIT AUTHORIZES THE HOLDER TO PROVIDE A SERVICE THAT
CONSTITUTES THE PRACTICE OF CERTIFIED PUBLIC ACCOUNTANCY ONLY IF
THE SERVICE IS PERFORMED BY AN INDIVIDUAL WHO IS LICENSED OR
OTHERWISE AUTHORIZED TO PRACTICE UNDER THIS TITLE.

2-407. TERM AND RENEWAL OF PERMIT.

(A)  TERM OF PERMIT.

UNLESS A PERMIT IS RENEWED FOR A 2-YEAR TERM AS PROVIDED IN
THIS SECTION, THE PERMIT EXPIRES ON THE 1ST DECEMBER 31 THAT
COMES:

(1)  AFTER THE EFFECTIVE DATE OF THE PERMIT; AND

(2)  IN AN EVEN-NUMBERED YEAR.

(B)  RENEWAL NOTICE.