230 Neb. Admin. Code, ch. 3, § 2

Current through September 17, 2024

Section 230-3-2 - Definitions

For purposes of these regulations, the following definitions apply:

A. "Act" refers to the Professional Employer Organization Registration Act, sections 48-2701 to 48-2711 of the Revised Statutes of Nebraska;

B. "Assurance Organization" means an entity that is authorized by a professional employer organization or professional employer organization group to act on its behalf in complying with the registration and registration renewal requirements of the Act, including the electronic filing of applications and other information, as well as the payment of application and registration fees;

C. "Commission" means the act of committing, doing, performing or perpetrating an action that is prohibited by law, statute or federal or state regulation;

D. "Department" means the Nebraska Department of Labor;

E. "Person" means any individual, partnership, corporation, limited liability company, association, or any other form of legally recognized entity;

F. "Professional employer organization" means an organization as defined in section 48-2702(11) of the Act;

G. "Prohibited" means that which is contrary to any law, statute or federal or state regulation;

H. "Professional employer organization group" means an organization as defined in section 48-2702(12) of the Act;

I. "Registrant" means a professional employer organization registered under the Act;

J. "Working capital" means current assets less current liabilities, as defined by generally accepted accounting principles.

230 Neb. Admin. Code, ch. 3, § 2

Amended effective 6/7/2017.