1999 Minnesota Statutes

     326.192 Licensure; qualifications of firms. 

    Subdivision 1.    Application.  Upon application made 
 upon the affidavit of a general partner of the partnership, 
 secretary of the corporation, or member of the limited liability 
 company or partnership who is a CPA or a LPA of this state in 
 good standing, the board shall issue a firm license.  The 
 license shall be valid for a period prescribed by the board, 
 unless the license is revoked sooner.  The application shall 
 confer upon the board the consent of the partnership, 
 corporation, or limited liability company or partnership, and of 
 the general partner, secretary, or member making the 
 application, to the board's jurisdiction over the acts of the 
 partnership and its partners or agents, of the corporation and 
 its shareholders or agents within the state, or of the limited 
 liability company or partnership and its members or agents. 

    Subd. 2.    CPA firms.  No partnership, corporation, or 
 limited liability company or partnership shall style itself as a 
 firm of CPAs unless: 

    (1) all partners, shareholders, or members resident in this 
 state are CPAs of this state; 

    (2) all managers in charge of offices maintained in this 
 state are CPAs of this state; 

    (3) all partners, shareholders, or members, wherever 
 situated, are CPAs of one of the states or territories or of the 
 District of Columbia; and 

    (4) the partnership, corporation, or limited liability 
 company or partnership is duly licensed under this section. 

    Subd. 3.    LPA firms.  No partnership, corporation, or 
 limited liability company or partnership shall style itself as a 
 firm of LPAs unless: 

    (1) all partners, shareholders, or members resident in this 
 state are LPAs or CPAs of this state; 

    (2) all managers in charge of offices maintained in this 
 state are LPAs or CPAs of this state; 

    (3) all partners, shareholders, or members, wherever 
 situated, are LPAs of this state or CPAs of one of the states or 
 territories or the District of Columbia; and 

    (4) the partnership, corporation, or limited liability 
 company or partnership is duly licensed under this section. 

    Subd. 4.    Cooperative auditing organization.  Any 
 cooperative auditing organization organized under chapter 308A 
 is qualified for a cooperative auditing service license and may 
 style itself as a licensed cooperative auditing service if: 

    (1) for a minimum of one year prior to July 1, 1979, it 
 rendered auditing or accounting of business analysis services to 
 its members only; and 

    (2) its managers in charge of offices maintained in this 
 state are certified public accountants or licensed public 
 accountants of this state.  

 Cooperative auditing services shall comply with all requirements 
 imposed by sections 326.165 to 326.229 and the board's rules 
 governing firms. 

    HIST: 1998 c 340 s 5