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Virginia Administrative Code
Title 18. Professional And Occupational Licensing
Agency 5. Board of Accountancy
Chapter 22. Board of Accountancy Regulations
11/15/2026

18VAC5-22-130.  Firm ownership.

A. A firm licensed in Virginia must (i) be at least 51% owned by persons who hold an active license or trustees of an eligible employee stock ownership plan as defined in § 13.1-543 of the Code of Virginia, and (ii) designate an active individual Virginia license holder as the principal licensee who will be responsible for the firm.

B. To comply with § 54.1-4412.1 D 2 of the Code of Virginia, owners of a firm who are not licensees must be persons who, based on the facts and circumstances, participate in the firm's activities on a regular, continuous, and substantial basis.

Statutory Authority

§§ 54.1-4402 and 54.1-4403 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 26, Issue 24, eff. September 16, 2010; amended, Virginia Register Volume 43, Issue 4, eff. November 4, 2026.

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