Board of Employee Leasing Companies Board Meeting Report: March 21, 2012
Mar 21, 2012
The Board of Employee Leasing Companies Board of Directors (“Board”) meeting today, March 21, 2012, commenced with disciplinary proceedings that have resulted in stipulated agreements. To view the meeting agenda, click here.
Most underlying violations that led to the stipulated agreements were related to deficiencies in carriers’ financial statements. The most frequent penalty that resulted from the stipulations were fines and costs of less than $1,000. Most respondents did not appear at the meeting. There was a backlog of stipulated settlements to be approved due to the Boards’ recent issues establishing a quorum.
The Board then addressed motions for waiver of rights and final orders. Most of these respondents failed to file an election of rights form or establish an issue of material fact, which would provide the respondent the right to a hearing. The penalties included fines and costs of up to $10,000 and suspension or, in several cases, revocation of the respondents’ licenses.
The meeting concluded with respondents’ voluntarily relinquishing licenses. The underlying allegations on the complaints were mostly related to issues with respondents’ financial statements. Most of the respondents relinquishing licenses did so because they never engaged in employee leasing in Florida. However, American Business Solutions, ABS 3 inc, RSK Group inc, and Kate Reynolds Kraska relinquished licenses based on Agency disciplinary action that led to the sale of their respective employee leasing businesses.
The Board will continue to incur quorum issues until another Board member is appointed and confirmed.
The Board is scheduled to meet tomorrow, March 22. To view the agenda for that meeting, click here.
Should you have any questions or comments, please contact Colodny Fass.
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