Maine § 32 §12252 Licenses; accounting firms

Maine Statutes

§ 32 §12252 — Licenses; accounting firms

Maine·Title 32 PROFESSIONS AND OCCUPATIONS·Ch. 113 PRACTICE OF PUBLIC ACCOUNTANCY

1.Licensure. The board shall grant or renew a license to accounting firms that submit the application required by the board, pay the fee as set under section 12203 and demonstrate their qualifications in accordance with this section.

2.Duration. A license expires on the date set by the Commissioner of Professional and Financial Regulation pursuant to Title 10, section 8003, subsection 4 for the licensing period for which the license was issued. A license may be renewed upon receipt of an application for renewal and payment of the renewal fee as set under section 12203.

3.Firm licenses. The following provisions apply to the issuance of firm licenses.

4.Office licensed. An applicant for initial issuance or renewal of a license under this section shall license each office of the firm with

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Licensure.
The board shall grant or renew a license to accounting firms that submit the application required by the board, pay the fee as set under section 12203 and demonstrate their qualifications in accordance with this section.
2.
Duration.
A license expires on the date set by the Commissioner of Professional and Financial Regulation pursuant to Title 10, section 8003, subsection 4 for the licensing period for which the license was issued. A license may be renewed upon receipt of an application for renewal and payment of the renewal fee as set under section 12203.
3.
Firm licenses.
The following provisions apply to the issuance of firm licenses.
4.
Office licensed.
An applicant for initial issuance or renewal of a license under this section shall license each office of the firm within this State with the board, pay the fee as set under section 12203 and show that each such office is under the charge of a person holding a valid license issued under section 12230 or 12231 or a corresponding provision of prior law or the laws of another state.
5.
Fees.
6.
Change in composition.
A licensed firm shall notify the board in writing, within 30 days after its occurrence, of any change in the identities of partners, officers or shareholders who work regularly within this State, any change in the number or location of offices within this State or any change in the identity of the persons in charge of those offices.
7.
Adjudicatory hearing.
8.
Peer review for certified public accountancy firms.
As a condition to the granting or renewal of licenses to certified public accountancy firms, each applicant that provides an attest service other than compilations must successfully participate in an approved peer review program. Participation in such a program is governed by the following.

Maine § 32 §12252 (Licenses; accounting firms) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

PL 1987, c. 489, §2 (NEW). PL 1999, c. 200, §1 (AMD). PL 1999, c. 619, §§2,3 (AMD). PL 2001, c. 260, §F2 (AMD). PL 2003, c. 344, §D22 (AMD). PL 2005, c. 347, §D5 (AMD). PL 2007, c. 384, §§11-13 (AMD). PL 2007, c. 402, Pt. Z, §17 (AMD). PL 2007, c. 695, Pt. A, §38 (RPR). PL 2009, c. 242, §21 (AMD). PL 2015, c. 110, §§8-10 (AMD). PL 2021, c. 68, §2 (AMD).