31A-40-307. Voluntary surrender of professional employer organization license.

252 words·~1 min read·/ut/title-31a/chapter-40/31a-40-307

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)When a professional employer organization wants to voluntarily surrender its professional employer organization license, the professional employer organization shall:

(a)notify in writing each coemployer regarding the impending loss of the following provided under the professional employer agreement:

(i)workers' compensation insurance coverage;

(ii)health care benefits, if a coemployers' employee welfare plan includes fully insured or partially insured health insurance benefits; and

(iii)any other insurance benefit provided to coemployers by the professional employer organization; and

(b)submit a letter of intent to voluntarily surrender the license to the commissioner:

(i)after providing the notice to coemployers under Subsection (1)(a) ; and

(ii)not less than 45 days before the day on which the professional employer organization surrenders its professional employer organization license.

(2)The letter of intent to voluntarily surrender a professional employer organization license shall include the following:

(a)the reason the professional employer organization license is being surrendered;

(b)a discussion of each process or plan to handle the obligations to coemployers and employees;

(c)a list of coemployers as of the date of the letter;

(d)a copy of the notice sent to the coemployers under Subsection (1)(a) ;

(e)certification that the professional employer organization has notified the coemployers located in Utah of the professional employer organization's intent to cease doing business in Utah; and

(f)the signature of the professional employer organization's chief executive officer or controlling individual.

Enacted by Chapter 10 , 2010 General Session