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§ 2-502. Ownership of accountant’s documents

West's Annotated Code of MarylandBusiness Occupations and Professions

West's Annotated Code of Maryland
Business Occupations and Professions
Title 2. Accountants (Refs & Annos)
Subtitle 5. Miscellaneous Provisions (Refs & Annos)
MD Code, Business Occupations & Professions, § 2-502
§ 2-502. Ownership of accountant’s documents
Currentness
Accountant’s document defined
(a) In this section, “accountant's document”:
(1) means any of the following documents, if the document is prepared by an accountant in the course of professional service provided to a client:
(i) a memorandum;
(ii) a record;
(iii) a schedule;
(iv) a statement; or
(v) a working paper; and
(2) does not include any document provided by the client to the accountant.
Ownership of accountant’s document
(b) Unless the client to whom an accountant's document relates and the accountant expressly agree to the contrary, the accountant's document is:
(1) the property of the accountant who prepared it; or
(2) if the accountant is a partner or employee of an accounting firm, the property of the firm.
Sale or transfer of accountant’s document
(c) Unless the client or a personal representative or assignee of the client consents, an accountant who holds an accountant's document that relates to a client may not give, sell, or otherwise transfer the accountant's document to anyone other than a partner of the accountant.

Credits

Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989.
Formerly Art. 75A, § 2-502.
MD Code, Business Occupations & Professions, § 2-502, MD BUS OCCUP & PROF § 2-502
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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