Florida Board of Employee Leasing Companies Meeting Report: May 19, 2010

 

 

The Florida Board of Employee Leasing Companies (“Board”) met via teleconference today, May 19, 2010, to consider various employee leasing company-related administrative matters.  To view the meeting agenda, click here.

 

Applications Approved

The Board approved the following employee leasing company and related controlling person applications with no discussion:

• Johnathan M. Taylor, Controlling Person Applicant
  • Landrum Professional Employer Services, Inc. I – GL
  • Landrum Professional Employer Services, Inc. II – GM
  • Landrum Professional Employer Services, Inc. III – GM
  • Landrum Professional Employer Services, Inc. IV – GM
  • AmStaff Human Resources, Inc. VI – GM

After discussing the requirement in Section 468.525(3)(b), Florida Statutes that an applicant for an initial employee leasing company license must have a minimum tangible accounting net worth of $50,000, the Board noted that, while the statute did not mention whether the $50,000 requirement must also be reflected in an applicant’s year-end financial statements, the following employee leasing company and related controlling person applications were approved after a determination that the applicants did, in fact, meet that requirement as of the February 2010 application date: 

• Theodore J. Winglass, Controlling Person Applicant
  • Alabama Staff, Inc. d/b/a Amsource
• Kymberly Group Payroll Solutions, Inc., Employee Leasing Company Application
  • Philip Martina, Controlling Person Applicant

 

Continuance Granted

The Board tabled the following employee leasing company and related controlling person applications until its next meeting:

• TLC Labor Source, Inc.
  • Thad Jones, Controlling Person Applicant
  • Timothy Coughlin, CO

Discussion focused on TLC Labor Source, Inc.’s annual report and its subsidiaries’ balance sheets.  Because the company’s application showed negative working capital, the Board granted a continuance until its next meeting so that the company can resolve issues with its financial statements. 

 

De Minimis Exemption and Registrations Approved

The Board approved the following de minimis exemption and registration applications after discussion:

• XEN 1, Inc. (William Stoller, CEO)
• XEN 2, Inc. (William Stoller, CEO)

In regard to the types of Professional Employer Organization clients it has for workers’ compensation insurance purposes, the XEN representative noted that the company’s clients are Oregon and Washington-based.  However, while the company carries a policy in Oregon, its clients are responsible for carrying workers’ compensation insurance in other states.

 

Employee Leasing Company Name Changes

The Board approved the following employee leasing company name change application after discussion:

• Carrick Business Solutions, LLC d/b/a The Employee Management Team to The Employee Management Team I, LLC

Discussion focused on the company’s required submission of a certificate of insurance that not only reflects its new name, but also includes the customary ‘for all leased employees’ provision.  The Board approved the application pending receipt of an updated certificate.

The Board approved the following termination of employee leasing company name operations application without discussion:

• Resource Management, Inc.

 

Controlling Person Relinquishment Applications Approved

The Board approved the following controlling person relinquishment applications without discussion:

• Michael R. Escue, CO
  • Sequent, Inc.
• Adrian P. Remke, CO
  • Landrum Professional Employer Services, Inc. I – GL
  • Landrum Professional Employer Services, Inc. II – GM
  • Landrum Professional Employer Services, Inc. III – GM
  • Landrum Professional Employer Services, Inc. IV – GM
  • AmStaff Human Resources, Inc. VI – GM
• Jay Starkman, CO
  • AlphaStaff, Inc. – GL
  • Alpha FLA 6, Inc. – GM
  • AlphaStaff 3, Inc. – GM
  • AlphaStaff Systems V, Inc. – GM
  • AlphaStaff 2, Inc. – GL
  • AlphaNY 2, Inc. – GM
  • Alpha NYPEO, Inc. – GM
  • Equity Leasing-Finance II, Inc. – GM

During the meeting, it was mentioned that Board Member Diane M. Moore will be leaving to pursue a career opportunity at the Florida Department of Financial Services.

The meeting was then adjourned.

 

 

Should you have any comments or questions, please contact Colodny Fass.

 

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