§77.1. Firm permits to practice; single-owner firms; death of owner

            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.