Ch. 73

2003 LAWS OF MARYLAND

[(2)] (3) at least 1 general partner and any other partner who practices
or intends to practice accountancy in the State is licensed by the Board under § 2-309
or § 2-320 of this title; and

[(3)] (4) the requirements of subsection (d) of this section are met.

(b)      The Board may issue a limited permit for the practice of certified public
accountancy on a specific job to a limited liability company if:

(1)      [each member is licensed to practice certified public accountancy in
this or another state or in a foreign country] A SIMPLE MAJORITY OF THE
OWNERSHIP OF THE LIMITED LIABILITY COMPANY, IN TERMS OF FINANCIAL
INTERESTS AND VOTING RIGHTS, IS HELD BY INDIVIDUALS LICENSED TO PRACTICE
CERTIFIED PUBLIC ACCOUNTANCY IN THIS OR ANOTHER STATE;

(2)      ANY INDIVIDUAL WHO HAS AN OWNERSHIP INTEREST IN THE
LIMITED LIABILITY COMPANY AND IS NOT LICENSED TO PRACTICE CERTIFIED
PUBLIC ACCOUNTANCY IN THIS OR ANOTHER STATE IS AN ACTIVE PARTICIPANT IN
THE LIMITED LIABILITY COMPANY;

(3)      EACH MEMBER WHO PRACTICES OR INTENDS TO PRACTICE
ACCOUNTANCY IN THE STATE IS LICENSED BY THE BOARD UNDER § 2-309 OR § 2-320
OF THIS TITLE; and

[(2)] (4) the requirements of subsection (d) of this section are met.

(c)      The Board may issue a limited permit for the practice of certified public
accountancy on a specific job to a corporation if:

(1)      [each shareholder is licensed to practice certified public accountancy
in this or another state or in a foreign country] A SIMPLE MAJORITY OF THE
OWNERSHIP OF THE CORPORATION, IN TERMS OF FINANCIAL INTERESTS AND
VOTING RIGHTS, IS HELD BY INDIVIDUALS LICENSED TO PRACTICE CERTIFIED
PUBLIC ACCOUNTANCY IN THIS OR ANOTHER STATE;

(2)      ANY INDIVIDUAL WHO HAS AN OWNERSHIP INTEREST IN THE
CORPORATION AND IS NOT LICENSED TO PRACTICE CERTIFIED PUBLIC
ACCOUNTANCY IN THIS OR ANOTHER STATE IS AN ACTIVE PARTICIPANT IN THE
CORPORATION;

[(2)] (3) each shareholder who practices or intends to practice
accountancy in this State is licensed by the Board under § 2-309 or § 2-320 of this
title; and

[(3)] (4) the requirements of subsection (d) of this section are met.

(d)      In order to qualify for a limited permit under this section a corporation,
limited liability company, or partnership shall:

(1)      not have a place of business in this State;

(2)      submit to the Board an application on the form that the Board
provides; and

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