| << Previous Section (31A-40-301) | Next Section (31A-40-303) >> |
Insurance Code | |
Professional Employer Organization Licensing Act | |
Section 302 | Licensing process. |
|
31A-40-302. Licensing process. (1) To apply for an initial or renewal license under this chapter, a person shall: (a) (i) submit an application with the commissioner on a form and in a manner the commissioner shall determine by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and (ii) pay a license fee determined in accordance with Section 31A-3-103 that is not refunded if the application: (A) is denied; (B) does not comply with Section 31A-40-303; or (C) if incomplete, is never completed by the person filing the application; or (b) comply with Section 31A-40-303. (2) In the application described in Subsection (1)(a), the person shall provide: (a) any name under which the professional employer organization will engage in a professional employer service; (b) the address of the principal place of business of the professional employer organization; (c) the address of each location the professional employer organization maintains in this state; (d) the professional employer organization's federal taxpayer or employer identification number; (e) the following information by jurisdiction of each name under which the professional employer organization operated in the five years preceding the day on which the person submits the application: (i) the name; (ii) an alternative name, if any; (iii) a name of a predecessor; and (iv) if known, a successor business entity; (f) a statement of ownership that includes the name and evidence of the business experience of a person that, individually or acting in concert with one or more other persons, owns or controls, directly or indirectly, 10% or more of the equity interests of the professional employer organization; (g) a statement of management that includes the name and evidence of the business experience of an individual who: (i) serves as president of the professional employer organization; (ii) serves as chief executive officer of the professional employer organization; or (iii) may act as a senior executive officer of the professional employer organization; and (h) a financial statement that: (i) sets forth the financial condition of: (A) the professional employer organization; or (B) a professional employer organization group in which the professional employer organization is a member; (ii) states whether or not the professional employer organization complies with Section 31A-40-205; and (iii) complies with Section 31A-40-305. (3) A professional employer organization shall renew its license by no later than October
1 of each year.
Amended by Chapter 10, 2010 General Session |
| << Previous Section (31A-40-301) | Next Section (31A-40-303) >> |