Louisiana Revised Statutes 37:77.1 – 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
Terms Used In Louisiana Revised Statutes 37:77.1
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Board: means the State Board of Certified Public Accountants of Louisiana. See Louisiana Revised Statutes 37:73
- Certificate: means a certificate as a certified public accountant issued pursuant to the provisions of this Part, as follows:
(a) An "active certificate" is granted to or renewed by an individual who has met all requirements pursuant to the provisions of this Part, including the experience requirement. See Louisiana Revised Statutes 37:73
- Continuance: Putting off of a hearing ot trial until a later time.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Executor: A male person named in a will to carry out the decedent
- Licensee: means the holder of a license. See Louisiana Revised Statutes 37:73
- Permit: means a permit to practice as a CPA firm issued pursuant to the provisions of this Part or pursuant to corresponding provisions of law of another state. See Louisiana Revised Statutes 37:73
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Professional: means arising out of or related to the specialized knowledge or skills associated with CPAs. See Louisiana Revised Statutes 37:73
- State: means any state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, Guam, and the Commonwealth of the Northern Mariana Islands. See Louisiana Revised Statutes 37:73
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.
Acts 2003, No. 335, §1; Acts 2016, No. 553, §1.