(1) A person currently licensed as a certified public accountant may, on any renewal date of that license, apply for and obtain a transfer of that license to a status of CPA emeritus registration if: (a) (i) the licensee is at least 60 years of age as of the date of renewal; (ii) the licensee has a disability; or (iii) the board finds other good cause for believing that the licensee will not return to the practice of public accountancy; (b) the licensee makes an application for transfer of status and registration and pays a registration fee determined by the department under Section 63J-1-504; (c) the licensee, on application for transfer, certifies that the licensee will not engage in the practice of public accountancy while in the status of CPA emeritus registration; and (d) the licensee is in good standing as a CPA and not subject to any order of revocation, suspension, or probation. (2) Each CPA emeritus registration shall be issued in accordance with a two-year renewal cycle established by rule. (3) CPA emeritus registrants may not engage in the practice of public accountancy. (4) CPA emeritus registrants are not required to fulfill the continuing professional education or peer review provisions of this chapter. (5) Each CPA emeritus registrant is responsible for renewing the registration, according to procedures that the division establishes by rule in collaboration with the board in accordance with Section 58-1-308. (6) A CPA emeritus registrant may reinstate the CPA license by: (a) submitting an application in a form prescribed by the division; (b) paying a fee determined by the department under Section 63J-1-504; and (c) showing evidence of having completed the continuing professional education requirement established by rule.
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