202.22 Registration requirements.

373 words·~2 min read·/wi/chapter-202/202-22-2

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

(1)Registration required; use of titles.

(a)No person may operate as a professional employer organization or professional employer group, advertise that the person is a professional employer organization or professional employer group, or otherwise hold itself out as a professional employer organization or professional employer group unless the person first registers with the department as provided in this section.

(b)No person may designate as the person’s title, or append to the person’s name the words or letters, “professional employer organization,” “P.E.O.,” “professional employer group,” “P.E.G.,” “staff leasing company,” “registered staff leasing company,” “employee leasing company,” or “administrative employer,” or other similar titles or letters, or use those titles, words, or letters to describe the person’s business or represent that the person or the person’s business is registered or licensed as a “professional employer organization,” “P.E.O.,” “professional employer group,” “P.E.G.,” “staff leasing company,” “registered staff leasing company,” “employee leasing company,” or “administrative employer,” unless the person is registered under this section.

(2)Application for registration. Except as provided in sub.

(b), an applicant for registration under this section shall submit to the department an application for registration in a form and manner prescribed by the department. Each application shall be accompanied by any information required by the department, including all of the following:

(am)The registration fee determined by the department under s. 202.041 .

1. Except as provided under subd. 2. , a financial statement that sets forth the financial condition of the applicant as of a date that is not more than 13 months preceding the date of the application, that is prepared in accordance with generally accepted accounting principles, and that has been audited by an independent certified public accountant. The financial statement shall be without qualification as to the going concern status of the applicant. A professional employer group may meet the requirements of this subdivision by submitting a combined or consolidated audited financial statement.

An applicant that does not have sufficient operating history to have an audited financial statement that is based on at least 12 months of operating history may meet the requirements of this subdivision by submitting financial statements that have been reviewed by an independent certified public accountant.