{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-15.15b","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-15.15B","heading":"Designated manager - Succession of business","body":"A. Except as authorized in subsection B of this section, each\n\noffice established or maintained in this state for the practice of\n\npublic accounting shall be under the direct supervision of a\n\ndesignated manager.\n\n1. The designated manager must be the holder of a certificate\n\nin order for the title \"Certified Public Accountant\" or the\n\nabbreviation \"C.P.A.\" to be used in connection with such office; or\n\n2. The designated manager must be the holder of a certificate\n\nor a license in order for the title \"Public Accountant\" or the\n\nabbreviation \"P.A.\" to be used in connection with such office.\n\nB. 1. For the purposes of a sale or transfer of an existing\n\noffice established or maintained in this state for the practice of\n\npublic accounting, the office is authorized to continue its\n\naccounting practice during the pendency of its sale or transfer to a\n\nqualified person or entity. For purposes of this subsection, the\n\nterm \"sale or transfer\" means and includes, but is not limited to:\n\na. the succession of an office established or maintained\n\nin this state for the practice of public accounting by\n\nthe sale or transfer to another person or entity\n\nauthorized by law to practice public accounting in\n\nthis state, or\n\nb. the succession of an office established or maintained\n\nin this state for the practice of public accounting by\n\ntransfer to a grantor trust upon the death of the\n\nholder of a permit to practice public accounting as an\n\ninterim interest holder before being transferred to\n\nqualified individual owners as set out in paragraph F\n\nor G of Section 15.15A of this title and only upon the\n\nactual review of all client documents by a qualified\n\ncertified public accountant or public accountant in\n\nthis state.\n\n2. Upon the death of a sole proprietor, single owner of a firm\n\nor a majority stockholder of a firm, notice shall be given to the\n\nexecutive director of the Oklahoma Accountancy Board by letter\n\nwithin fourteen (14) days of the death expressing any intention to\n\nsell, transfer or assume responsibility of the office, and declaring\n\nthe name of the qualified person or entity who has agreed to\n\ncontinue the business or review the client documents during pendency\n\nof the sale or transfer.\n\n3. Upon completion of a sale or transfer authorized by this\n\nsubsection, notice shall be given to the executive director of the\n\nOklahoma Accountancy Board by affidavit within fourteen (14) days of\n\nconclusion of the sale or transfer stating the date of completion of\n\nthe sale or transfer, the name of the designated manager who\n\nreviewed client documents or continued the business through\n\ncompletion of the sale or transfer, and the name of the purchaser or\n\ntransferee that has assumed responsibility for the office, if\n\ndifferent from the designated manager.\n\n4. If a sale or transfer cannot be completed within sixty (60)\n\ndays, the executive director of the Oklahoma Accountancy Board shall\n\nbe notified monthly until the sale or transfer has been completed.\n\n5. Nothing in this subsection shall prohibit the executive\n\ndirector of the Oklahoma Accountancy Board from seeking an action\n\nfor injunctive relief or disciplinary action if there is reasonable\n\ncause to believe a person is violating the law or administrative\n\nrules of the Board.\n\nC. The Board shall promulgate such rules as are necessary to\n\nimplement the provisions of this section.","path":["OK Code","Title 59"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os59.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"63950dce6f94b60440229e9f9bf23ae5696acae643e5ece070aed5100f130b73","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-15.15a","next":"us-ok/okla.-stat.-tit.-59-59-15.15c"},"notice":"GroundRules: Original legal text. Not legal advice."}