WILLIAM DONALD SCHAEFER, Governor

Ch. 3

THE PARTNERSHIP SHALL:

(1)  HAVE A PERMANENT OFFICE IN THE STATE FROM WHICH
AN INDIVIDUAL IS TO PRACTICE CERTIFIED PUBLIC ACCOUNTANCY; OR

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

(C)  MANAGEMENT BY RESIDENT PARTNER.

EACH PERMANENT OFFICE REQUIRED UNDER SUBSECTION (B) OF THIS
SECTION SHALL BE MANAGED BY A PARTNER OF THE PARTNERSHIP WHO
RESIDES IN THE STATE.

(D)  QUALIFICATIONS OF PARTNERS.

(1)  EACH PARTNER SHALL BE LICENSED TO PRACTICE
CERTIFIED PUBLIC ACCOUNTANCY IN THIS OR ANOTHER STATE.

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

REVISOR'S NOTE: This section formerly appeared as Art. 75A,
§ 2-402.

In subsection (d)(2) of this section, the reference to
practicing or intending to practice "certified public
accountancy" is substituted for the former reference
to practicing "accountancy" since the requirements for
licensure under Subtitle 3 of this title apply only to
practicing certified public accountancy.

The only other changes are in style.

Defined terms: "Board" § 2-101
"License" § 2-101 "Permit" § 2-101
"Practice certified public accountancy" § 2-101
"State" § 1-101

2-403. SAME -- CORPORATIONS.

(A)  IN GENERAL.

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

(B)  COMPLIANCE WITH PROFESSIONAL SERVICE CORPORATION ACT.

THE CORPORATION SHALL MEET THE APPLICABLE REQUIREMENTS OF
THE MARYLAND PROFESSIONAL SERVICE CORPORATION ACT.

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