Professional Employer Organization. “Professional employer organization” means an employing unit which places all or part of a client company's workers on its payroll or payrolls and, by written agreement, assigns or leases the workers to the client company. “Professional employer organization” does not mean a temporary help firm within the meaning of this subtitle. Obligations of a Professional Employer Organization. A professional employer organization is subject to all of the rights and obligations of employing units under the Unemployment Insurance Law. Acquisitions. Upon the acquisition of all or part of a client company's workers: A professional employer organization is initially classified as a successor employer for purposes of assigning a contribution rate, assessing administrative fees and tax liability, and transferring the taxable wage base of the workers who were placed on the professional employer organization's payroll; and The client company is initially classified as a predecessor employer. A subsequent acquisition or transfer, by sale or otherwise, of all or part of a professional employer organization's assets, business, organization, or trade is treated in accordance with the Unemployment Insurance Law. Notification. A professional employer organization shall notify the Secretary in writing when the company places all or part of a client company's workers on its payroll. Notification shall be given within 30 days of placing the workers on the payroll and shall be provided in the form and manner required by the Secretary. Notification shall include, at a minimum, the following information: Name, address, and phone number of the professional employer organization; Name, address, and phone number of the client company; Date the professional employer organization acquired the client company's workers; and Total number of workers acquired from the client company. Annual Report. On or before December 31 of each year, a professional employer organization shall file an annual report of the company's clients with the Secretary. The annual report shall be in writing and shall include: Name, address, and phone number of the professional employer organization; and Names and addresses of client companies to whom the professional employer organization leases or assigns workers.