West Virginia Code 30-9-18 – Notification of changes in firm ownership; revocation of permit
(a) A permit holder must notify the board in writing, within thirty days after its occurrence, of any change in the identities of partners, officers, shareholders, members or managers whose principal place of business is in this state, any change in the number or location of offices within this state, any change in the identity of the persons in charge of those offices, and any issuance, denial, revocation or suspension of a permit or equivalent designation by any other state.
Terms Used In West Virginia Code 30-9-18
- Board: means the West Virginia Board of Accountancy. See West Virginia Code 30-9-2
- Firm: means any business entity, including, but not limited to, accounting corporations and professional limited liability companies, in which two or more certified public accountants or public accountants hold an ownership or membership interest, in terms of the financial interests and voting rights of all partners, officers, shareholders, members or managers, and the primary business activity of which is the provision of professional services to the public by certified public accountants or public accountants. See West Virginia Code 30-9-2
- Firm ownership requirements: means , with respect to:
(A) Any professional limited liability company organized pursuant to article thirteen, chapter . See West Virginia Code 30-9-2
- in writing: includes any representation of words, letters, or figures, whether by printing, engraving, writing, or otherwise. See West Virginia Code 2-2-10
- Manager: means a manager of a professional limited liability company. See West Virginia Code 30-9-2
- Member: means a member of a professional limited liability company. See West Virginia Code 30-9-2
- Permit: means a permit issued to a firm pursuant to this article. See West Virginia Code 30-9-2
- Principal place of business: means the licensee&rsquo. See West Virginia Code 30-9-2
- Rule: means any rule proposed for legislative approval by the board pursuant to this article. See West Virginia Code 30-9-2
- State: means any state of the United States, the District of Columbia, Puerto Rico, the U. See West Virginia Code 30-9-2
(b) The board shall suspend or revoke the permit of any firm that ceases to meet firm ownership requirements due to changes in firm ownership or personnel due to the death or retirement of a partner, officer, shareholder, member or manager and that fails to take corrective action in the manner and during the time period specified by rule.