Section Lab 1503.05 - Use of an Approved Assurance Organization(a) If the commissioner determines that it would provide greater financial protection or access to additional compliance information, or assist the commissioner in minimizing the cost of administration, then the commissioner shall approve an independent and qualified assurance organization in accordance with RSA 277-B:6, IV. Such approved assurance organization shall assure that applicants and licensed employee leasing companies comply with the requirements of RSA 277-B and these rules.(b) To be considered for approval as an assurance organization, the assurance organization shall submit a written request for approval to the commissioner,including evidence that the assurance organization:(2) Is licensed or approved by one or more states to certify the qualifications of employee leasing companies;(3) Has an established national program for the accreditation and financial assurance of employee leasing companiesacceptable to the commissioner; and(4) Is capable of determining a failure of any employee leasing company to meet the qualifications for licensure under RSA 277-B or to meet the requirements for certification by the assurance organization, and is capable of providing written notice to the commissioner within 2 business days of such failure.(c) The commissioner shall, by letter to the assurance organization, approve an assurance organization that meets the requirements of paragraphs (a) and (b).(d) Once approved, the assurance organization may act on behalf of an employee leasing company to provide the commissioner with an application that has been executed by the authorized signatory of each employee leasing company requesting licensing under RSA 277-B:6, IV. (e) Such application of the employee leasing company shall:(1) Authorize the approved assurance organization to share with the commissioner the application and compliance reporting information that has been provided to the assurance organization by the employee leasing company;(2) Authorize the commissioner to accept information shared by the assurance organization for licensing or renewal of licensing of the employee leasing company;(3) Certify that the information provided by the assurance organization to the commissioner is true and complete and that the employee leasing company is in full and complete compliance with all requirements of RSA 277-B; and (4) Provide the certification of the assurance organization that the employee leasing company is in compliance with the assurance organization's standards and procedures and is qualified for licensure or renewal of licensure under RSA 277-B.(f) If an approved assurance organization no longer meets the requirements of paragraph (b), the commissioner shall begin the process to suspend such approval under RSA 541-A:30 and conducta detailed review of all information provided by the assurance organization on behalf of each employee leasing company that was licensed based upon that assurance organization's certification. In such case, the commissioner shallnotify each such employee leasing company in writing of any deficiencies, and each such employee leasing company shall have sixty 60to correct any deficiencies as may be required to maintain licensure. (g) The approval issued to an assurance organization shall remain in effect until the assurance organization withdraws from the State or until approval is suspended. (h) An employee leasing company may authorize an approved assurance organization to act on its behalf in complying with the licensing and licensing renewal requirements of RSA 277-B, including the electronic filing of applications and other information and the payment of application and licensing fees. Use of an approved assurance organization shall be optional and not mandatory for an employee leasing company. (i) If an employee leasing company, which has been licensed pursuant to the certification of an approved assurance organization, fails to comply with any provision of RSA 277-B or these rules, the commissioner shall provide the assurance organization 30days written notice prior to taking action against any bond provided by the assurance organization. During these 30 days, the assurance organization may cure the failure to comply. (j) Nothing in these rules shall limit or change the commissioner's authority to issue licenses, revoke licenses, conduct investigations, or enforce any provision of RSA 277-B.N.H. Admin. Code § Lab 1503.05