(A) The department may issue a restricted license to a nonresident professional employer organization or professional employer organization group for limited operation within this State under the following conditions if the:

1. (1) applicant's state of residence provides for licensing of professional employer organizations, the applicant is licensed and in good standing in its state of residence, and the applicant's state of residence grants a similar privilege for restricted licensing to professional employer organizations or professional employer organization groups that are residents in South Carolina;
2. (2) applicant does not maintain an office, sales force, or representatives in this State, and it does not solicit clients that are residents in this State; and
3. (3) applicant does not have more than forty leased employees working in this State.