About firm ownership
A minority of the ownership of a firm practicing public accountancy within this state may be held by non certified public accountants or non licensed public accountants, but each such owner: 1. Must be an individual; 2. Must not serve as the principal executive officer of the firm; 3. Must not exercise authority over the performance of audit, review, compilation, or other attest services; and 4. Must not aid in the unauthorized practice of public accounting, or knowingly misrepresent facts, or commit any act discreditable to the accounting profession.

When any owner of a firm practicing public accounting within this state is convicted of a felony or other crime involving fraud or dishonesty, or is disciplined by a regulatory agency, that person's ownership in the firm must be fully divested within six months thereafter, if so directed by the board. In the event of death or incapacity of a firm's sole owner, the firm may continue to operate under the owner's name and credential, for up to one year. The board may require firm supervision.