A BILL TO BE ENTITLED
AN ACT to amend the north carolina professional employer organization act concerning bonding provisions and maintenance of employee benefits.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 58‑89A‑50(a) reads as rewritten:
"(a)	An applicant for licensure shall file with the Commissioner a surety bond for the benefit of the Commissioner as follows:
(1)	If the applicant was initially licensed prior to October 1, 2008, the bond, or other items as provided for in subsection (f) of this section, shall be in the amount of one hundred thousand dollars ($100,000).
(2)	If the applicant was not initially licensed prior to October 1, 2008, the bond, or other items as provided for in subsection (f) of this section, shall be in an amount equal to five percent (5%) of the applicant's prior year's total North Carolina wages, benefits, workers compensation premiums, and unemployment compensation contributions, but not greater than five hundred thousand dollars ($500,000), or such greater amount as the Commissioner may require."
SECTION 2.  G.S. 58‑89A‑105 is amended by adding a new subsection to read:
"(a1)	A client company may sponsor and maintain employee benefit plans for the benefit of assigned employees."
SECTION 3.  This act is effective when it becomes law.