A. Except as provided in section 32-725, subsection G, once every two years each of the following shall pay the registration fee pursuant to section 32-729 and register with the board as a firm:

1. 1. A business organization that meets all of the following criteria:

   1. (a) Has a simple majority of the ownership, in terms of direct and indirect financial interests and voting rights, that belongs to holders in good standing of certificates or licenses as certified public accountants in any jurisdiction.
   2. (b) Has an office in this state.

   3. (c) Either:

      1. (i) Performs attest services or compilation services.
      2. (ii) Uses the CPA designation in its firm name.

2. 2. A sole proprietorship that meets all of the following criteria:

   1. (a) Has an owner that is a certified public accountant in good standing in this state.
   2. (b) Has an office in this state.

   3. (c) Either:

      1. (i) Performs attest services or compilation services.
      2. (ii) Uses the CPA designation in its business name, unless the business name is the name of the sole proprietor as registered with the board.

3. 3. An individual who meets both of the following criteria:

   1. (a) Is a certified public accountant in good standing in this state.

   2. (b) Either:

      1. (i) Performs attest services or compilation services in this state, other than as an owner or employee of a sole proprietorship or business organization required to register under paragraph 1 or 2 of this subsection or in the capacity as an employee of a governmental entity.
      2. (ii) Uses the CPA designation, unless the name used is the name of the individual as registered with the board.

J. For the purposes of this section, "good standing" means:

1. 1. For an individual, a status that allows the individual to use the CPA designation and to perform accounting services for a fee or other compensation.
2. 2. For a firm, a status that allows the firm to use the CPA designation.