13.1-1112 - Special provision for limited liability company engaged in practice of accounting. - Virginia Statutes

§ 13.1-1112. Special provision for limited liability company engaged inpractice of accounting.

Before any professional limited liability company may engage in the practiceof accounting in this Commonwealth, it shall first obtain and maintain anyregistration required for that professional limited liability company byChapter 44 (§ 54.1-4400 et seq.) of Title 54.1. Not less than fifty-onepercent of the membership interests of a professional limited liabilitycompany rendering the services of accounting shall be held by individuals orprofessional business entities duly licensed or otherwise legally authorizedto render the services of accounting, and the remainder of the membershipinterests may be held only by individuals who are employees of theprofessional limited liability company, whether or not those employees arelicensed or otherwise authorized to render professional services.

(1992, c. 574; 2000, c. 191.)