§ 37:77.1 — Firm permits to practice; single-owner firms; death of owner

Louisiana § 37:77.1

• Jurisdiction: Louisiana
• Title 37: Professions and Occupations

Text

§77.1. Firm permits to practice; single-owner firms; death of owner
A. Notwithstanding the provisions of this Chapter to the contrary, upon written
authorization from the board, a firm that is a sole proprietorship, a single-member limited
liability company, a single-shareholder professional accounting corporation, or any other
single-owner business entity licensed to practice public accounting by the state of Louisiana
may continue to operate for a period of up to twenty-four months following the date of death
of the owner. Authorization of the continuation of the firm shall be granted by the board
when the following documents have been provided to the board:
(1) A certified copy of the owner's death certificate or a notarized affidavit of
evidence of the owner's death, acceptable to the board.
(2) A copy of a power of attorney or similarly enforceable document executed by the
owner's executor, administrator, or heir designating a licensee in good standing with the
board to manage the firm on behalf of the heirs of the owner for the twenty-four month
period.
(3) Written evidence that a disruption in the continuation of the firm would
jeopardize the survivability of the firm.
B. The firm's permit to practice as a certified public accountant firm shall be renewed
annually during the period of continuance of the firm. The board may charge a fee for
applying for the continuation of business not to exceed the annual filing fee for firm permits.

Legislative History

Acts 2003, No. 335, §1; Acts 2016, No. 553, §1.