                                 CODE OF VIRGINIA

SPECIAL PROVISION FOR CORPORATION ENGAGED IN PRACTICE OF ACCOUNTING (§
13.1-549.1)

Before any professional corporation may engage in the practice of accounting in
this Commonwealth it shall first obtain and maintain any registration required
for such corporation by Chapter 44 (§ 54.1-4400 et seq.) of Title 54.1. A
corporation rendering the services of accounting shall issue not less than
fifty-one percent of its shares to individuals or professional business entities
duly licensed or otherwise legally authorized to render the services of
accounting, including trustees of an eligible employee stock ownership plan, and
the remainder of said shares may be issued only to and held by individuals who
are employees of the corporation, whether or not such employees are licensed or
otherwise authorized to render professional services.

HISTORY: 1972, c. 180; 2000, c. 191; 2006, cc. 672, 715; 2008, c. 265.