Utah Code 31A-40-103. Duties of the commissioner

(1)

License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
professional employer organization: means a person engaged in the business of providing a professional employer service. See Utah Code 31A-40-102
Working capital: means the current assets minus the current liabilities of a professional employer organization determined in accordance with generally accepted accounting principles. See Utah Code 31A-40-102

(a)	The commissioner shall maintain a list of professional employer organizations that are licensed under this chapter.

(b)	The commissioner shall make the list required by this Subsection (1) available to the public by electronic or other means.

(2)

(a)	shall make rules to prescribe the requirements for forms required under this chapter;

(b)

may make rules to prescribe the requirements and process for correcting under Section 31A-40-205:

(i)	a deficiency in working capital; or

(ii)	negative working capital;

(c)

may make rules to prescribe the requirements for the review and submission of a financial statement under Section 31A-40-305:

(i)	that are consistent with generally accepted accounting principles; and

(ii)	including the timeliness of a financial statement; and

(d)

may make rules to prescribe the requirements and process for when a professional employer organization license is terminated by:

(i)	voluntary surrender of the professional organization license; or

(ii)	involuntary surrender of the professional organization license.

(3)	A rule in effect on May 5, 2008 under the repealed Title 58, Chapter 59, Professional Employer Organization Registration Act, remains in effect until such time as the commissioner modifies or repeals the rule.

Amended by Chapter 10, 2010 General Session