§ 7404. Requirements for a license as a certified public accountant. 1. To qualify for a license as a certified public accountant, an applicant shall fulfill the following requirements:

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(1) Application: file an application with the department;

(2) Education: have received an education, including a bachelor's or higher degree or a foreign equivalent based on a program in accountancy, in accordance with the commissioner's regulations;

(3) Experience: have experience satisfactory to the board of regents and in accordance with the commissioner's regulations;

(4) Examination: pass a written examination satisfactory to the board and in accordance with the commissioner's regulations and the requirement with respect to such examination may not be waived;

(5) Age: be at least twenty-one years of age;

(6) Citizenship: meet no requirements as to United States citizenship;

(7) Character: be of good moral character as determined by the department; and

(8) Fees: pay a fee of two hundred twenty dollars to the department for admission to a department conducted examination and for an initial license, a fee of one hundred fifteen dollars for each reexamination, a fee of one hundred thirty-five dollars for an initial license for persons not requiring admission to a department conducted examination, and a fee of two hundred ten dollars for each triennial registration period.

2. In lieu of professional requirements specified in paragraphs two and three of subdivision one of this section, fifteen years in the practice of public accountancy satisfactory to the board may be accepted by the department.