(a) Public accountant licenses and firm registrations under this chapter shall be renewed every two years on payment of the required fee.(b) As a condition of renewal of a license as a public accountant, the Board may require that the licensee establish that he or she has satisfied continuing education requirements established by Board rule.(c) The Board may by rule require, on either a uniform or a random basis, as a condition to renewal of firm registrations under section 74 of this title, that applicants undergo peer reviews conducted no more frequently than once every three years in such manner and producing such satisfactory result as the Board may specify, provided, however, that any such requirement:(1) shall be adopted reasonably in advance of the time when it is first required to be met; and(2) shall include a reasonable provision for compliance by an applicant's showing that the applicant has undergone a satisfactory peer review performed for other purposes that was substantially equivalent to peer reviews generally required pursuant to this section, and completion of such review was within the three years immediately preceding the renewal period.(d) Information submitted for peer reviews is exempt from public disclosure under 1 V.S.A. § 317(c)(3) and (6).(e) If a licensee fails to renew within 10 years of the license lapsing, the licensee must file a new application for licensure and satisfy the initial licensure requirements of the Board in order to obtain a license.Added 1975, No. 89, § 13; amended 1981, No. 161 (Adj. Sess.), § 2; 1991, No. 167 (Adj. Sess.), § 13; 1997, No. 59, § 49, eff. 6/30/1997; 1999, No. 133 (Adj. Sess.), § 5; 2001, No. 129 (Adj. Sess.) , § 15; eff. 6/13/2002.