South Carolina Code 40-2-560. Issuance of licenses
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(A) Licenses must be issued by the board to persons satisfying the requirements of § 40-2-550 upon the payment of a license fee in an amount to be determined by the board.
(B) A licensee must file an application for renewal in accordance with § 40-2-250.
Terms Used In South Carolina Code 40-2-560
- Board: means the South Carolina Board of Accountancy. See South Carolina Code 40-2-20
- Firm: includes a person or persons practicing public accounting in the form of a proprietorship, partnership, limited liability partnership, limited liability company, or professional corporation or association. See South Carolina Code 40-2-20
- License: means authorization to practice as issued under this chapter. See South Carolina Code 40-2-20
- Licensee: means the holder of a license. See South Carolina Code 40-2-20
- Manager: means a licensee in responsible charge of an office. See South Carolina Code 40-2-20
- Owner: means any person who owns all or part of a firm. See South Carolina Code 40-2-20
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: means any state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, the Commonwealth of the Northern Mariana Islands, and Guam; except that "this State" means the State of South Carolina. See South Carolina Code 40-2-20
(C) A partnership, firm, or registrant must file an application in accordance with § 40-2-40 and § 40-2-255.
(D) Legal entities, without payment of a permit fee, must meet the following standards:
(1) at least one owner must be an accounting practitioner of this State in good standing;
(2) each partner must be lawfully engaged in the practice, as defined in § 40-2-520, in a state of the United States; and
(3) each resident manager in charge of an office must be an accounting practitioner of this State in good standing.