Arizona § 23-569 Financial capability; bonding

Arizona Statutes

§ 23-569 — Financial capability; bonding

Arizona § 23-569

Title 23Arizona Revised Statutes

Ch. 3EMPLOYMENT SERVICES

Art. 4Professional Employer Organizations

This text of Arizona § 23-569 (Financial capability; bonding) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 23-569 (2026).

Text

Every professional employer organization that is located in this state shall maintain either of the following:

1.A minimum net worth of at least $100,000.

2.A bond, an irrevocable letter of credit or securities that have a minimum market value of $100,000. The bond shall be held by an insured depository institution in order to secure the payment of all taxes, wages, benefits or other entitlements, including amounts expended by the industrial commission's special fund under section 23-907 that are due to be paid by the professional employer organization with respect to covered employees if the professional employer organization fails to make the required payments. Any bond, irrevocable letter of credit or securities that are deposited under this section shall not be included for the p

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Every professional employer organization that is located in this state shall maintain either of the following:

1. A minimum net worth of at least $100,000.

2. A bond, an irrevocable letter of credit or securities that have a minimum market value of $100,000. The bond shall be held by an insured depository institution in order to secure the payment of all taxes, wages, benefits or other entitlements, including amounts expended by the industrial commission's special fund under section 23-907 that are due to be paid by the professional employer organization with respect to covered employees if the professional employer organization fails to make the required payments. Any bond, irrevocable letter of credit or securities that are deposited under this section shall not be included for the purposes of calculating the minimum net worth of the professional employer organization under this section.