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Session Laws, 1986
Volume 768, Page 2992   View pdf image
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2992

LAWS OF MARYLAND

Ch. 780

OR PARTNERSHIP OR CORPORATE PERMIT HOLDER BE REGISTERED EVERY 2
YEARS WITH THE BOARD BY THE INDIVIDUAL, PARTNERSHIP, OR
CORPORATION; AND

(II) SET THE PROCEDURE TO CARRY OUT THE
REGISTRATION.

(2) THE BOARD MAY NOT CHARGE A FEE FOR ANY
REGISTRATION REQUIRED UNDER THIS SECTION.

(B) FAILURE TO REGISTER.

(1) IF A CERTIFIED PUBLIC ACCOUNTANT OR A PARTNERSHIP
OR CORPORATE PERMIT HOLDER FAILS TO REGISTER ANY OFFICE, AS
REQUIRED BY A REGULATION ADOPTED UNDER SUBSECTION (A) OF THIS
SECTION, THE LICENSE OF THE CERTIFIED PUBLIC ACCOUNTANT OR THE
PERMIT OF THE PARTNERSHIP OR CORPORATION SHALL:

(1)  BE SUSPENDED AUTOMATICALLY; AND

(2)  REMAIN SUSPENDED UNTIL THE LICENSEE OR PERMIT
HOLDER COMPLIES WITH THE REGISTRATION REQUIREMENTS ADOPTED UNDER
THIS SECTION.

2-502. OWNERSHIP OF DOCUMENTS.

(A)  "ACCOUNTANT'S DOCUMENT" DEFINED.

(1)  IN THIS SECTION, "ACCOUNTANT'S DOCUMENT" MEANS
ANY OF THE FOLLOWING DOCUMENTS, IF THE DOCUMENT IS PREPARED BY AN
ACCOUNTANT IN THE COURSE OF PROFESSIONAL SERVICE PROVIDED TO A
CLIENT:

(I)  A STATEMENT;

(II)  A RECORD;

(III)  A SCHEDULE;

(IV)  A MEMORANDUM; OR

(V)  A WORKING PAPER.

(2)  "ACCOUNTANT'S DOCUMENT" DOES NOT INCLUDE ANY
DOCUMENT PROVIDED BY THE CLIENT TO THE ACCOUNTANT.

(B)  IN GENERAL.

UNLESS THE CLIENT TO WHOM THE DOCUMENT RELATES AND THE
ACCOUNTANT EXPRESSLY AGREE TO THE CONTRARY, AN ACCOUNTANT'S
DOCUMENT IS THE PROPERTY OF THE ACCOUNTANT WHO PREPARED IT OR, IF
THE ACCOUNTANT IS A PARTNER OR EMPLOYEE OF AN ACCOUNTING FIRM,
THEN OF THE FIRM.

(C) TRANSFER.

 

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Session Laws, 1986
Volume 768, Page 2992   View pdf image
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