An individual or firm with a practice privilege that engages in the practice of public accounting in the state under the practice privilege and a firm that hires an individual with a practice privilege shall (1) consent to the personal and subject matter jurisdiction and disciplinary authority of the board;
(2) agree to comply with this chapter, including the regulations adopted by the board;
(3) agree that the individual or firm will stop offering to engage or engaging in the practice of public accounting, whether individually or on behalf of a firm, if the license from the state of the individual's or firm's principal place of business becomes invalid; and
(4) consent to the appointment of the state board that issued the individual's license or firm's authorization to engage in the practice of public accounting in another state as the individual's or firm's agent for service of process in a court action or in another proceeding against the individual or firm that arises out of a transaction or an operation connected with or incidental to the individual's or firm's engagement in the practice of public accounting.