1. (a) Retired status. A licensee who is at least 60 years old and has filed a request on a form prescribed by the board stating that he has no association with accounting work for compensation may be granted retired status at the time of license renewal. An individual who has been granted retired status and who reenters the workforce in a position that has an association with accounting work for which he receives compensation automatically loses the retired status. A CPA who serves on a Board of Directors, Board of Trustees, or in a similar governance position is not eligible for retired status unless the service is provided without compensation and for a charity, civic, or similar non-profit organization. Upon reentry into the workforce under such conditions, the individual must notify the board and request a new license renewal notice and:

   1. (1) pay the license fee established by the board for the period since he became employed;
   2. (2) complete a new license renewal notice; and
   3. (3) meet the CPE requirements for the period since he was granted the retired status as required by §523.113(1)(B)(ii) of this title (relating to Exemptions from CPE).

2. (b) Disability status. Disability status may be granted to an individual who submits to the board a statement and a notarized affidavit from the licensee's physician which identifies the disability and states that the individual is unable to work because of a severe ongoing physical or mental impairment or medical condition that is not likely to improve within the next 12 consecutive months. This status may be granted only at the time of license renewal.

   1. (1) Disability status is immediately revoked upon:

      1. (A) the CPA reentering the workforce in a position that has an association with accounting work for which he receives compensation; or
      2. (B) the CPA serving on a Board of Directors, Board of Trustees, or in a similar governance position unless the service is for a charity, civic, or similar non-profit organization.

   2. (2) Upon reentry into the workforce under such conditions, the individual must notify the board and request a new license renewal notice and:

      1. (A) pay the license fee established by the board for the period since he became employed;
      2. (B) complete a new license renewal notice; and
      3. (C) meet the CPE requirements for the period pursuant to §523.113(1)(B)(ii) of this title.

3. (c) For purposes of this section the term "association with accounting work" shall include the following:

   1. (1) working, supervising or providing oversight of accounting work performed in the areas of financial accounting and reporting; tax compliance, planning or advice; management advisory services; accounting information systems; treasury, finance, or audit; or
   2. (2) representing to the public, including an employer, that the individual is a CPA or public accountant in connection with the sale of any services or products involving accounting work, including such designation on a business card, letterhead, proxy statement, promotional brochure, advertisement, or office; or
   3. (3) offering testimony in a court of law purporting to have expertise in accounting and reporting, auditing, tax, or management services; or
   4. (4) for purposes of making a determination as to whether the individual fits one of the categories listed in subsection (a) or (b) of this section the questions shall be resolved in favor of including the work as an "association with accounting work."
4. (d) All board rules and all provisions of the Act apply to an individual in retired or disability status.

Source Note:The provisions of this §515.8 adopted to be effective November 1, 1989, 14 TexReg 5557; amended to be effective October 30, 1991, 16 TexReg 5830; amended to be effective June 9, 1994, 19 TexReg 4199; amended to be effective February 27, 2000, 25 TexReg 1391; amended to be effective October 13, 2005, 30 TexReg 6433; amended to be effective August 17, 2008, 33 TexReg 6379; amended to be effective August 8, 2012, 37 TexReg 5781; amended to be effective October 9, 2013, 38 TexReg 6920.