Nevada § 628.343 - Registration as corporation of certified public accountants: Qualifications; application; determination; fees; authorized use of certain designations; notice to Board required of certain changes

§ 628.343. Registration as corporation of certified public accountants: Qualifications; application; determination; fees; authorized use of certain designations; notice to Board required of certain changes

1. A corporation required or otherwise seeking to register with the Board pursuant

to NRS 628.335 shall 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 of this State in good standing. (c) At least one shareholder of the corporation must be a certified public accountant

of this State in good standing. (d) Each manager in charge of an office of the corporation in this State and each

shareholder or director who is regularly and personally engaged within this State

in the practice of public accounting must be a certified public accountant of this

State in good standing. (e) 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. (f) The corporation maintains an office in this State. (g) 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. The Board shall determine whether the applicant is eligible for registration and

may charge an initial fee and an annual renewal fee set by the Board by regulation. A corporation which is so registered may use the words “certified public accountants”

or the abbreviation “C.P.A.'s” or “CPA's” 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.