{"data":{"id":"us-ky/krs-336.240","jurisdiction":"us-ky","citation":"KRS 336.240","heading":"Requirement to maintain positive working capital or provide a bond,","body":"irrevocable letter of credit, or securities.\nExcept as provided in KRS 336.236, each professional employer organization or\ncollectively each professional employer organization group shall either:\n(1) Maintain positive working capital as indicated by current assets minus current\nliabilities and defined by generally accepted accounting principles at registration as\nreflected in the financial statements submitted to the Departmen t of Workers'\nClaims with the initial registration or with each annual renewal registration; or\n(2) Provide a bond, irrevocable letter of credit, or securities with a minimum market\nvalue equaling the deficiency plus one hundred thousand dollars ($100,000)  to the\nDepartment of Workers' Claims if the professional employer organization or\nprofessional employer organization group does not have positive working capital.\nThe bond shall be held by a depository designated by the Department of Workers'\nClaims, secu ring payment by the professional employer organization of all taxes,\nwages, benefits, or other entitlement due to or with respect to covered employees\nshould the professional employer organization fail to make payments when due.","path":["KRS Chapter 336"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=53908","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:25Z","sha256":"c4103c4c0ddf5402f23d97df5f9f5432103aee9b28707af1be04250ae3da7a92","source_id":"us-ky","stale":false,"prev":"us-ky/krs-336.238","next":"us-ky/krs-336.242"},"notice":"GroundRules: Original legal text. Not legal advice."}