628.363 - Requirements for registration as corporation of public accountants.
628.363 Requirements for registration as corporation of public accountants.
1. Unless exempt from registration pursuant to NRS 628.335, a corporation organized for the practice of public accounting shall register with the Board as a corporation of public accountants and comply with the following requirements:
(a) The sole purpose and business of the corporation must be to furnish to the public services not inconsistent with this chapter or the regulations of the Board, except that the corporation may invest its money in a manner not incompatible with the practice of public accounting.
(b) The principal officer of the corporation and any officer or director having authority over the practice of public accounting by the corporation must be a certified public accountant or a registered public accountant of this State in good standing.
(c) Each manager in charge of an office of the corporation in this State must be a certified public accountant or a registered public accountant of this State in good standing.
(d) In order to facilitate compliance with the provisions of this section relating to the ownership of stock, there must be a written agreement binding the shareholders or the corporation to purchase any shares offered for sale by, or not under the ownership or effective control of, a qualified shareholder. The corporation may retire any amount of stock for this purpose, notwithstanding any impairment of its capital, so long as one share remains outstanding.
(e) The corporation shall comply with other regulations pertaining to corporations practicing public accounting in this State adopted by the Board.
2. Application for registration must be made upon the affidavit of a shareholder who holds a live permit to practice in this State as a certified public accountant or as a registered public accountant. The Board shall determine whether the applicant is eligible for registration. The Board may charge a registration fee and renewal fee and a reporting fee in an amount set by regulation. A corporation which is so registered may use the words “public accountants” in connection with its corporate name. Notice must be given to the Board within 1 month after the admission to or withdrawal of a shareholder from any corporation so registered.
(Added to NRS by 1995, 1476; A 1997, 927; 1999, 1702; 2009, 317)