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OK HB2078
Bill
Status
2/7/2011
Primary Sponsor
Charles Key
Click for details
AI Summary
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Amends the Oklahoma Professional Employer Organization Recognition and Registration Act to add a new financial requirement for PEOs and PEO Groups seeking registration
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Requires PEOs and PEO Groups to provide documentation demonstrating a financial strength rating of B+ or better as determined by A.M. Best Company, Inc.
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The new financial strength rating requirement applies in addition to existing requirements for audited or reviewed financial statements prepared by independent certified public accountants
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Effective date is November 1, 2011
Legislative Description
Oklahoma Professional Employer Organization Recognition and Registration Act; modifying requirements; effective date.
Business and Economic Development
Last Action
Referred to Insurance Committee
2/16/2011