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Ohio legislature considers amendments to PEO laws

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Article Title: Ohio legislature considers amendments to PEO laws - Source: State of Ohio - 6/10/2009

The state of Ohio moves to enact legislation that establishes financial capacities and clarify the rights of PEOs and their client companies. - A financial statement required under division (B)(7) of this section for initial registration shall be the most recent financial statement of the professional employer organization or professional employer organization group of which the professional employer organization is a member and shall not be older than thirteen months. For each registration renewal, the professional employer organization shall file the required financial statement within one hundred eighty days after the end of the professional employer organization's or professional employer organization group's fiscal year. A professional employer organization may apply to the administrator for an extension beyond that time if the professional employer organization provides the administrator with a letter from the professional employer organization's auditor stating the reason for delay and the anticipated completion date.