South Carolina Code 40-68-80. Licensing of multiple companies owned by same entity as professional employer organization group; joint liability
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 40-68-80
- Person: means an individual, association, corporation, partnership, or other private legal entity. See South Carolina Code 40-68-10
- Professional employer organization: means an individual business entity that offers professional employer services. See South Carolina Code 40-68-10
- Professional employer organization group: means a combination of professional employer services companies that operates under a group license issued under § 40-68-80. See South Carolina Code 40-68-10
A group of at least two but not more than five professional employer organizations that are majority-owned by the same entity may be licensed as a professional employer organization group. A professional employer organization group may satisfy the reporting and financial requirements of the chapter on a consolidated basis. As a condition of the issuance of a professional employer organization group license, each person that is a member of the group must guarantee payment of all financial obligations of other members of the group.