(A) A licensee who is retired and does not perform or offer to perform for compensation one or more kinds of services involving the use of accounting or auditing skills, including issuance of reports on financial statements or of one or more kinds of management advisory, financial advisory, or consulting services or the preparation of tax returns or the furnishing of advice on tax matters, may apply to the board for permission to place the word "Emeritus" adjacent to the licensee’s "Certified Public Accountant" title or "Public Accountant" title on any document or device on which the "Certified Public Accountant" or "Public Accountant" title appears.

(B) A license in "Emeritus" status must be renewed annually with no fee required. A license in "Emeritus" status may be reinstated as an active license, subject to fulfilling the requirements for the reinstatement of a lapsed license under § 40-2-250.