South Carolina Code of Laws
Chapter 2 - Accountants
Section 40-2-600. Formation of legal entities between certified public accountants, public accountants, and accounting practitioners.

Nothing contained in this article may be construed to prohibit the formation of legal entities by and between certified public accountants, public accountants, and accounting practitioners if all members or shareholders of the legal entities and all resident managers of offices of the legal entities are licensed under this chapter as certified public accountants or public accountants or are properly licensed under Article 3 of this chapter as accounting practitioners and if the partnerships apply for an annual permit in the manner prescribed in this article for other partnerships. The composition of the ownership of a legal entity will determine whether the entity is subject to the additional restrictions imposed by Article 1 of this chapter.
HISTORY: 1996 Act No. 453, Section 1; 2004 Act No. 289, Section 1; 2022 Act No. 174 (S.812), Section 1, eff May 16, 2022.
Effect of Amendment
2022 Act No. 174, Section 1, rewrote the section.

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Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 40 - Professions and Occupations

Chapter 2 - Accountants

Section 40-2-5. Purpose of chapter.

Section 40-2-10. South Carolina Board of Accountancy created; membership; terms; filling of vacancies; administrator.

Section 40-2-20. Definitions.

Section 40-2-30. Licensing or registration requirement; form for issuance of report by person other than CPA or PA; use of titles CPA and PA; exemptions.

Section 40-2-35. Requirements for license to practice; fulfilling education, examinations, and experience requirements.

Section 40-2-40. Grant or renewal of registration to practice as firm; qualifications for registration; changes in identities of partners or officers.

Section 40-2-70. Powers and duties of board.

Section 40-2-80. Investigations of complaints or other information suggesting violations; report.

Section 40-2-90. Report of violations to board; hearing; notice to accused licensee or registrant.

Section 40-2-100. Cease and desist order for conduct violating chapter; temporary restraining orders; injunctions.

Section 40-2-110. Revocation, suspension, or probation of licensees; revocation of registration or limitation of scope of practice of firm.

Section 40-2-130. Denial of authorization to practice.

Section 40-2-140. Effect of prior criminal conviction on authorization to practice.

Section 40-2-150. Surrender of license to practice while under investigation for violation; reinstatement.

Section 40-2-160. Appeal.

Section 40-2-170. Costs of investigation and prosecution.

Section 40-2-180. Unpaid costs become judgment.

Section 40-2-190. Disclosure of information communicated by client; ownership of statements, records, and working papers created by licensee; copies of client records and other documents.

Section 40-2-200. Violations; penalty.

Section 40-2-210. Cease and desist order for violation of licensing requirement; injunctions and restraining orders; penalty.

Section 40-2-240. Licensing of persons licensed in another state.

Section 40-2-245. Requirements to practice if licensed out of state.

Section 40-2-250. Renewal of licenses; reinstatement of lapsed licenses.

Section 40-2-255. Renewal of registration; peer reviews.

Section 40-2-270. "Emeritus" status.

Section 40-2-275. "Retired" status.

Section 40-2-330. Severability.

Section 40-2-335. Performance according to professional standards; misleading professional or firm names.

Section 40-2-340. Omitted.

Section 40-2-510. Persons considered to be engaged in practice.

Section 40-2-520. Unlicensed practice.

Section 40-2-530. Exemptions.

Section 40-2-540. Authority of board.

Section 40-2-550. Applicant qualifications.

Section 40-2-560. Issuance of licenses.

Section 40-2-570. Disciplinary action.

Section 40-2-580. Initiation of proceedings; procedures.

Section 40-2-590. Violations; penalty.

Section 40-2-600. Formation of legal entities between certified public accountants, public accountants, and accounting practitioners.

Section 40-2-610. Disclaimer.