KRS 325.330: Application and issuance of license to practice -- Renewal -- Expiration --

Continuing professional education -- Reinstatement.

(1) An applicant for an initial license to practice shall:

(a) Satisfy all the requirements of KRS 325.261 and the administrative

regulations promulgated by the board;

(b) Pay a fee not to exceed two hundred dollars ($200); and

(c) Complete the application process established in an administrative regulation

promulgated by the board.

(2) Licenses shall be initially iss ued and renewed for a period of two (2) years, and

shall expire on the first day of July in the year of expiration.

(3) When an initial license to practice is granted, the board shall issue a nonrenewable

document that indicates that the licensee has satis fied all requirements to receive an

initial license as a certified public accountant.

(4) An applicant for renewal of a license to practice who is in good standing shall

complete the renewal procedure established in administrative regulations

promulgated by the board that show that the applicant has:

(a) Fulfilled the requirement of continuing professional education as defined by

the board by administrative regulation, but not to exceed eighty (80) hours

during a two (2) year calendar period ending December 31 preceding the July

1 renewal date. Certified public accountants not employed by a firm licensed

by the board shall be required to achieve continuing professional education

not to exceed sixty (60) hours during the two (2) year calendar period ending

December 31 preceding the July 1 renewal date. The board shall provide for

lesser, prorated requirements for applicants whose initial permit was issued

substantially less than two (2) years prior to the renewal date;

(b) Paid a fee not to exceed two hundred dollars ($200) biennially;

(c) Listed a permanent mailing address; and

(d) Designated as part of the renewal process whether the applicant is employed

by a firm licensed by the board.

(5) Any license not renewed by the expiration date shall automatically expire and the

holder of the expired license shall be prohibited from practi cing public accounting

or holding himself or herself out as a certified public accountant.

(6) (a) The holder of a license that from the date of renewal has been expired for a

period shorter than six (6) months, and who has not violated any other

provision of this chapter, may renew the license by meeting all of the

requirements of this section and paying a late penalty fee not to exceed one

hundred dollars ($100).

(b) If the license has expired for a period longer than six (6) months, the applicant

shall a pply to the board for reinstatement. The board shall determine the

eligibility for license reissuance, including a late penalty fee not to exceed two

hundred dollars ($200) and additional continuing professional education

hours.

(c) Failure to receive a re newal notice shall not constitute an adequate reason for

failing to renew the license to practice in a timely manner.

(7) (a) Effective January 1, 2011, licenses shall expire on August 1 of the year in

which they are to be renewed. Odd -numbered licenses shall expire on August

1 of every odd -numbered year and even -numbered licenses shall expire on

August 1 of every even-numbered year.

(b) An applicant for renewal of a license to practice who is in good standing shall

complete the renewal procedure, which sha ll be established by administrative

regulation promulgated by the board and shall require the applicant to:

1. Fulfill the continuing professional education requirements, as defined by

the board by promulgation of administrative regulation, in accordance

with the following:

a. Certified public accountants employed by or operating a firm

licensed by the board shall be required to complete no more than

eighty (80) hours of continuing professional education during the

two (2) year calendar period ending Decemb er 31 preceding the

August 1 renewal date;

b. Certified public accountants not employed by a firm licensed by

the board shall be required to complete no more than sixty (60)

hours during the two (2) year calendar period ending December 31

preceding the August 1 renewal date; and

c. The board shall provide for lesser, prorated requirements for

applicants whose initial license was issued substantially less than

two (2) years prior to the renewal date;

2. Pay a fee not to exceed two hundred dollars ($200) biennially;

3. Provide a permanent mailing address; and

4. Designate where the applicant is currently practicing.

(c) Any license not renewed by the expiration date shall automatically expire, and

the holder of the expired license shall be prohibited from prac ticing public

accounting or holding himself or herself out as a certified public accountant.

(d) 1. The holder of a license that has been expired for a period of less than

one (1) month, who has not violated any other provision of this chapter,

may renew the license by meeting all of the requirements of this section

and paying a late penalty fee not to exceed one hundred dollars ($100).

2. If the license has expired for a period longer than one (1) month, the

applicant shall apply to the board for reinstate ment. The board shall

determine the eligibility for license reissuance, including a late penalty

fee not to exceed two hundred dollars ($200) and additional continuing

professional education hours.

(8) The board may reduce or waive the license to practice renewal requirements upon

written request of the licensee showing illness, extreme hardship, or age and

retirement from practice as prescribed by the board by administrative regulation.

(9) A licensee shall notify the board in writing of a change in his or her mailing address

within twenty (20) days following the effective date of the change in address.