MS HB1520

Requires professional employer organizations (PEOs) to register with the Mississippi Insurance Department before providing co-employment services in the state, with initial registration fee up to $500 and annual renewal fee up to $250

Defines PEOs as companies that enter into co-employment relationships with client businesses, assuming responsibilities for payroll, tax withholding, and employee benefits while clients retain direction and control over day-to-day work activities

Mandates PEOs maintain positive working capital or provide a bond/letter of credit covering any deficiency plus $100,000 to secure payment of employee wages, taxes, and benefits

Establishes a limited registration option (up to $250 fee) for out-of-state PEOs with no Mississippi office that have 50 or fewer covered employees in the state

Authorizes the Insurance Commissioner to impose penalties up to $1,000 per violation, revoke licenses, or issue cease and desist orders for violations including operating without registration or providing false information