Indiana Professional Employer Organization Bond


New Indiana surety law affects professional employer organizations within the state. The new law is named HB 1486 and modifies the financial requirements concerning professional employer organizations. Previous legislation required a professional employer organization to sustain a minimum net worth of $50,000 or acquire a minimum bond of $50,000. HB 1486 requires the professional employer organization to sustain a positive working capital; if it can’t it must obtain a surety bond to make up for the deficit, and an additional $100,000.