(1) A certified public accountant who is licensed in a jurisdiction that has licensing standards that are substantially equivalent to Montana's standards, or who meets the individual substantial equivalent standards, may practice under the practice privilege pursuant to 37-50-325, MCA.

(2) The board has determined that all jurisdictions approved by NASBA are deemed to be "substantially equivalent". As of October 2009, the following jurisdictions are "substantially equivalent":

(a) the District of Columbia;

(b) Guam;

(c) Commonwealth of the Northern Mariana Island; and

(d) all of the states in the United States of America, except Colorado.