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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 12. Professional Regulations. |
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Part 12.1. Boards and Commissions Subject to Centralized Licensing. |
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Chapter 12.04. Board of Public Accountancy. |
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Article 12.04.5. Permits and Practice Privileges. |
Section 12.04.255. Ownership.
Latest version.
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(a) A partnership, limited liability company, corporation, or other legal entity granted a permit under AS 08.04.240 that ceases to be in compliance with the ownership requirements of that section shall promptly take action to remedy that noncompliance. (b) The following time periods apply to the remediation efforts under (a) of this section: (1) if the noncompliance is remedied no later than 180 days after the noncompliance begins, the partnership, limited liability company, corporation, or other legal entity need not provide notice to the board; (2) if the noncompliance is not or cannot be remedied during the 180-day period, the partnership, limited liability company, corporation, or other legal entity shall provide notice of the noncompliance to the board; the board will establish a reasonable length of additional time by which the partnership, limited liability company, corporation, or other legal entity must achieve compliance; in establishing a reasonable length of time, (A) the following factors may be considered: (i) the nature and extent of the noncompliance; (ii) whether the noncompliance could or should have been anticipated or avoided; (iii) any hardship that achieving compliance in a more expeditious manner may impose; and (B) the board may approve (i) up to an additional 180 days, for a total of 360 days; (ii) a length greater than that set under (i) of this subparagraph, if reasonable and necessary.
Authorities
08.04.055;08.04.240