1. A. Registration required. Except as otherwise provided in the Oklahoma Professional Employer Organization Recognition and Registration Act, no person shall, unless such person is registered as a PEO under the Oklahoma Professional Employer Organization Recognition and Registration Act, provide, advertise, or otherwise hold itself out as providing professional employer services in this state.

2. B. Registration information. Each PEO required to be registered under the Oklahoma Professional Employer Organization Recognition and Registration Act shall provide the Commissioner with information required by the Commissioner on forms prescribed by the Commissioner. At a minimum, PEOs shall provide the following information:

   1. 1. The name or names under which the PEO conducts business;
   2. 2. The address of the principal place of business of the PEO and the address of each office it maintains in this state;
   3. 3. The PEO’s taxpayer or employer identification number;
   4. 4. A list by jurisdiction of each name under which the PEO has operated in the preceding five (5) years, including any alternative names, names of predecessors and, if known, successor business entities;
   5. 5. A statement of ownership, which shall include the name and evidence of the business experience of any person that, individually or acting in concert with one or more other persons, owns or controls, directly or indirectly, twenty-five percent (25%) or more of the equity interests of the PEO;
   6. 6. A statement of management, which shall include the name and evidence of the business experience of any person who serves as president, chief executive officer, or otherwise has the authority to act as senior executive officer of the PEO; and
   7. 7. A financial statement setting forth the financial condition of the PEO, as of a date not earlier than one hundred eighty (180) days prior to the date submitted to the Commissioner, prepared in accordance with generally accepted accounting principles, and audited or reviewed by an independent certified public accountant licensed to practice in the jurisdiction in which such accountant is located. A PEO Group may submit combined or consolidated audited or reviewed financial statements to meet the requirements of this section.

3. C. Initial registration.

   1. 1. Each PEO operating within this state as of November 1, 2002, shall complete its initial registration not later than one hundred eighty (180) days after the end of the PEO’s first fiscal year ending after November 1, 2002.
   2. 2. Each PEO not operating within this state as of November 1, 2002, shall complete its initial registration prior to commencement of operations within this state.
4. D. Renewal. Within one hundred eighty (180) days after the end of a registrant’s fiscal year, such registrant shall renew its registration by notifying the Commissioner of any changes in the information provided in such registrant’s most recent registration or renewal.
5. E. Group registration. Any two or more PEOs held under common control of any other person or persons acting in concert may be registered as a PEO Group. A PEO Group may satisfy any reporting and financial requirements of this registration law on a consolidated basis.

6. F. De minimis exemption.

   1. 1. A PEO is exempt from the registration requirements payable under the Oklahoma Professional Employer Organization Recognition and Registration Act if such PEO:

      1. a. submits a properly executed request for exemption on a form provided by the Department,
      2. b. is domiciled outside this state and is licensed or registered as a professional employer organization in another state that has the same or greater requirements as the Oklahoma Professional Employer Organization Recognition and Registration Act,
      3. c. does not maintain an office in this state or solicit in any manner clients located or domiciled within this state, and
      4. d. does not have more than twenty-five covered employees employed or domiciled in this state; and
   2. 2. An exemption of a professional employer organization from the registration requirements under the Oklahoma Professional Employer Organization Recognition and Registration Act shall be valid for one (1) year, subject to renewal.
7. G. List. The Commissioner shall maintain a list of professional employer organizations registered or exempted under this Oklahoma Professional Employer Organization Recognition and Registration Act.
8. H. Forms. The Commissioner may prescribe forms necessary to promote the efficient administration of this section.

Laws 2002, HB 2267, c. 64, § 4, eff. November 1, 2002.