Section 15 - Retired Status(a) Beginning July 1, 2014, upon application to the Board and compliance with this Article and Section 5070.1 of the Business and Professions Code, a licensee may have his or her license placed in a retired status. This Article shall not prohibit a holder of a license in a retired status from receiving a share of the net profits from a public accounting firm or other compensation from a public accounting firm, provided that the licensee does not otherwise engage in the practice of public accountancy.(b) Failure to maintain compliance with this article and Sections 5058.3 or 5070.1 of the Business and Professions Code is unprofessional conduct and grounds for revocation or discipline of the retired license.Cal. Code Regs. Tit. 16, § 15
1. New article 2.5 (sections 15-15.4) and section filed 10-16-2013; operative 1-1-2014 (Register 2013, No. 42). For prior history, see Register 83, No. 16.
2. Amendment of article heading filed 11-13-2013; operative 1-1-2014 (Register 2013, No. 46). Note: Authority cited: Sections 5010 and 5070.1, Business and Professions Code. Reference: Sections 5058.3, 5070.1, 5100 and 5109, Business and Professions Code.
1. New article 2.5 (sections 15-15.4) and section filed 10-16-2013; operative 1-1-2014 (Register 2013, No. 42). For prior history, see Register 83, No. 16.
2. Amendment of article heading filed 11-13-2013; operative 1-1-2014 (Register 2013, No. 46).