SENATE BILL No. 1239

May 3, 2000, Introduced by Senators SHUGARS, HAMMERSTROM, ROGERS and

MC COTTER and referred to the Committee on Economic Development,

International Trade and Regulatory Affairs.

A bill to amend 1980 PA 299, entitled

"Occupational code,"

by amending section 728 (MCL 339.728), as added by 1997 PA 10.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 728. (1) A firm organized for the practice of public

2 accounting shall apply for and obtain a license under this arti-

3 cle in order to engage in the practice of public accounting in

4 this state. The firm applying for licensure under this article

5 shall meet both of the following requirements:

6 (a) At least 2/3 A SIMPLE MAJORITY of the equity and

7 voting rights of the firm are held directly or beneficially by

8 individuals who are licensed in good standing as certified public

9 accountants of this or another state or the equivalent in another

10 licensing jurisdiction acceptable to the board.

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1 (b) The principal officer of the firm and each officer or

2 director having authority for the practice of public accounting

3 by the firm are licensed in good standing as certified public

4 accountants in this or another state or the equivalent in another

5 licensing jurisdiction acceptable to the board.

6 (2) A firm shall provide a change in address to the depart-

7 ment within 30 days of the change.

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