Ohio Code 4125.01 – Definitions
As used in this chapter:
Terms Used In Ohio Code 4125.01
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Client employer: means a sole proprietor, partnership, association, limited liability company, or corporation that enters into a professional employer organization agreement and is assigned shared employees by the professional employer organization. See Ohio Code 4125.01
- Coemploy: means the sharing of the responsibilities and liabilities of being an employer. See Ohio Code 4125.01
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Professional employer organization: means a sole proprietor, partnership, association, limited liability company, or corporation that enters into an agreement with one or more client employers for the purpose of coemploying all or part of the client employer's workforce at the client employer's work site. See Ohio Code 4125.01
- Professional employer organization agreement: means a written contract to coemploy employees between a professional employer organization and a client employer with a duration of not less than twelve months in accordance with the requirements of this chapter. See Ohio Code 4125.01
- Professional employer organization reporting entity: means two or more professional employer organizations that are majorityowned or commonly controlled by the same entity, parent, or controlling person and that satisfy reporting entity control rules as defined by the financial accounting standards board and under generally accepted accounting principles. See Ohio Code 4125.01
(A) “Assurance organization” means an independent and qualified entity approved by the administrator of workers’ compensation to certify the qualifications of a professional employer organization or professional employer organization reporting entity.
(B) “Client employer” means a sole proprietor, partnership, association, limited liability company, or corporation that enters into a professional employer organization agreement and is assigned shared employees by the professional employer organization.
(C) “Coemploy” means the sharing of the responsibilities and liabilities of being an employer.
(D) “Professional employer organization” means a sole proprietor, partnership, association, limited liability company, or corporation that enters into an agreement with one or more client employers for the purpose of coemploying all or part of the client employer‘s workforce at the client employer’s work site.
(E) “Professional employer organization agreement” means a written contract to coemploy employees between a professional employer organization and a client employer with a duration of not less than twelve months in accordance with the requirements of this chapter.
(F) “Professional employer organization reporting entity” means two or more professional employer organizations that are majorityowned or commonly controlled by the same entity, parent, or controlling person and that satisfy reporting entity control rules as defined by the financial accounting standards board and under generally accepted accounting principles.
(G) “Shared employee” means an individual intended to be assigned to a client employer on a permanent basis, not as a temporary supplement to the client employer’s workforce, who is coemployed by a professional employer organization and a client employer pursuant to a professional employer organization agreement.
(H) “Trade secret” has the same meaning as in section 1333.61 of the Revised Code.
(I) “Working capital” means the excess of current assets over current liabilities as determined by generally accepted accounting principles.
Last updated January 27, 2023 at 3:23 PM