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17-12-402. Professional partnerships, corporations, limited liability companies, and sole proprietorships of public accountants.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-12-402. Professional partnerships, corporations, limited liability companies, and sole proprietorships of public accountants.
(a) A partnership engaged in this state in the practice of public accounting shall register with the Arkansas State Board of Public Accountancy as a partnership of public accountants, provided it meets the following requirements:
(1) At least one (1) general partner shall be a certified public accountant or a public accountant of this state in good standing; and
(2) Each resident manager in charge of an office of the partnership in this state shall be a certified public accountant or a public accountant of this state in good standing.
(b) A corporation engaged in this state in the practice of public accounting shall register with the board as a corporation of public accountants, provided it meets the following requirements:
(1) An officer or director of the corporation having authority over the practice of public accounting by the corporation shall be a certified public accountant or a public accountant of this state in good standing;
(2) Each resident manager in charge of an office of the corporation in this state shall be a certified public accountant or a public accountant of this state in good standing; and
(3) The corporation shall be in compliance with other rules pertaining to corporations practicing public accounting in this state that the board may prescribe.
(c) A limited liability company engaged in this state in the practice of public accounting shall register with the board as a limited liability company of public accountants, provided it meets the following requirements:
(1) Any manager, member, officer, or director of the limited liability company having authority over the practice of public accounting by the l
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-12-402
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:17-12-402
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2efafe581b1098d26af7220821138d9903c0b37d4685c8004a57c71778735c67
Source location: content.xml paragraph 1371
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17-12-402. Professional partnerships, corporations, limited liability companies, and sole proprietorships of public accountants.
(a) A partnership engaged in this state in the practice of public accounting shall register with the Arkansas State Board of Public Accountancy as a partnership of public accountants, provided it meets the following requirements:
(1) At least one (1) general partner shall be a certified public accountant or a public accountant of this state in good standing; and
(2) Each resident manager in charge of an office of the partnership in this state shall be a certified public accountant or a public accountant of this state in good standing.
(b) A corporation engaged in this state in the practice of public accounting shall register with the board as a corporation of public accountants, provided it meets the following requirements:
(1) An officer or director of the corporation having authority over the practice of public accounting by the corporation shall be a certified public accountant or a public accountant of this state in good standing;
(2) Each resident manager in charge of an office of the corporation in this state shall be a certified public accountant or a public accountant of this state in good standing; and
(3) The corporation shall be in compliance with other rules pertaining to corporations practicing public accounting in this state that the board may prescribe.
(c) A limited liability company engaged in this state in the practice of public accounting shall register with the board as a limited liability company of public accountants, provided it meets the following requirements:
(1) Any manager, member, officer, or director of the limited liability company having authority over the practice of public accounting by the limited liability company shall be a public accountant or certified public accountant of this state in good standing;
(2) Each resident manager in charge of an office of the limited liability company shall be a certified public accountant or a public accountant of this state in good standing; and
(3) The limited liability company shall be in compliance with other rules pertaining to the limited liability companies practicing public accounting in this state that the board may prescribe.
(d) A public accountant operating as a sole proprietorship and engaged in this state in the practice of public accounting shall:
(1) Register with the board as a sole proprietor; and
(2) Comply with the requirements of § 17-12-403.
(e) Applications for registration shall be made upon the affidavit of a general partner, shareholder, or member who is licensed in this state as a certified public accountant or as a public accountant.
(f) The board shall in each case determine whether the applicant is eligible for registration.
(g) A firm that is so registered may use the words “public accountants” in connection with its firm.
(h) Notification shall be given to the board within one (1) month after the admission to or withdrawal of a partner, shareholder, or member from any partnership, corporation, or limited liability company so registered.
(i) A firm registered pursuant to this section may include nonlicensee owners, provided that:
(1) A majority of the ownership of the firm in terms of financial interests and voting rights of all partners, officers, directors, shareholders, members, or managers belongs to licensees of this state;
(2) The firm designates a licensee of this state who is responsible for the proper registration of the firm and identifies that individual to the board;
(3) All nonlicensee owners are active individual participants in the firm; and
(4) The firm complies with such other requirements as the board may impose by rule.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-12-403. Offices.
(a) Each office established or maintained in this state for the practice of public accounting in this state by a certified public accountant, public accountant, or firm shall be registered annually with the Arkansas State Board of Public Accountancy under this chapter.
(b) No fee shall be charged for the registration of one (1) office. The board at its discretion may require an annual fee to be paid for each additional office registered. The amount of the fee shall be established by board rule.
(c) Each office shall be under the direct supervision of a resident manager who may be either the sole proprietor or an owner of the firm or a staff employee licensed under this chapter. The title or designation “certified public accountant” or the abbreviation “CPA” shall not be used in connection with an office unless the resident manager is the holder of a certificate as a certified public accountant which is in full force and effect. The resident manager may serve in such a capacity at one (1) office only.
(d) The board shall prescribe by rule the procedure to be followed in effecting such registrations.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-12-403
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-12-403. This identifies an authority to review, not proof of applicability.