Texas Administrative Code

Texas Administrative Code

TITLE 16	ECONOMIC REGULATION
PART 4	TEXAS DEPARTMENT OF LICENSING AND REGULATION
CHAPTER 72	PROFESSIONAL EMPLOYER ORGANIZATION
RULE §72.71	Responsibility of Licensee--Records

(a) Upon notification, the licensee shall allow the executive director or his designee to audit records required by the Code and any records required by this chapter.

(b) All licensees shall maintain the following documents for two (2) years following the termination of a professional employer services agreement:

(1) insurance coverage documents which may be required for filing with the Texas Department of Insurance, or insurance coverage documents which the licensee may be required to retain by the Texas Department of Insurance;

(2) all documents pertaining to insurance claims;

(3) workers compensation coverage documents;

(4) all documents pertaining to workers' compensation claims;

(5) professional employer services agreements between the license holder and client companies;

(6) employee tax records that may be required to be retained by or filed with the Texas Workforce Commission;

(7) employee tax records that may be required to be retained by or filed with the Internal Revenue Service; and

(8) employee tax records that may be required to be retained by or filed with the county or state.

(c) This section does not require a licensee to obtain documents that it would not otherwise obtain in the course of business and does not require a licensee to obtain documents from any other person or entity. This section requires licensees to maintain copies of documents actually received in the course of business or required to be maintained by the governmental entities listed in this section.

Source Note: The provisions of this §72.71 adopted to be effective November 19, 1993, 18 TexReg 8197; amended to be effective April 15, 1998, 23 TexReg 3678; amended to be effective April 1, 2004, 29 TexReg 3173; amended to be effective January 1, 2010, 34 TexReg 9430; amended to be effective January 1, 2014, 38 TexReg 9512