SB 268 North Carolina Senate · 2025-2026 Session

Amend NC PEO Act.-AB

SB 268 amends North Carolina's Professional Employer Organization (PEO) Act to update financial requirements for PEOs seeking or maintaining a license. The bill extends the deadline for submitting an audited financial statement from 90 to 120 days before application and requires PEOs to maintain at least $50,000 in tangible net worth with positive working capital. PEOs with negative working capital must provide an additional surety bond equal to the negative amount. Additionally, the bill clarifies that multiple PEOs under the same parent can apply for a single group license, with each member guaranteeing the financial obligations of all others.

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2025

Committee Review

Floor Vote

Governor

Introduced Mar 12, 2025 Last action Mar 13, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Filed → Edition 1 · 3 edits

MINOR

This bill transitioned from a filed draft version to an official edition with updated formatting and metadata. The primary changes involve administrative updates including the bill number, session date, and referral information rather than substantive policy modifications.

TECHNICAL

Updated bill identifier from DRS15117-NE-53 to S268-v-1 to reflect the official Senate version

Added specific referral information directing the bill to Rules and Operations of the Senate dated March 13, 2025

Removed draft-specific metadata and formatting elements from the filed version

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 13, 2025

Committee

Ref To Com On Rules and Operations of the Senate

upper

Mar 12, 2025

Introduced

Filed

upper

2 primary · 3 co-sponsors