Employee Leasing Companys Power Of Attorney {DOL-14B}

DOL-14B - EMPLOYEE LEASING COMPANY’S POWER OF ATTORNEY. This is a form issued by the Georgia Department of Labor (GDOL) that authorizes the Department to act as the Attorney-in-Fact for an employee leasing company that deposits securities in lieu of a cash deposit or surety bond under O.C.G.A. § 34-8-172 of the Georgia Employment Security Law. This form accompanies the Employee Leasing Company’s Election of Cash Deposit, Surety Bond, or Securities (Form DOL-12B) and is required when a company elects to secure its unemployment insurance obligations through acceptable securities rather than cash or bond. By executing this Power of Attorney, the leasing company grants GDOL legal authority to redeem or liquidate the deposited securities in the event of default, applying the proceeds toward unpaid unemployment tax liabilities. The securities must be purchased in the company’s name and deposited for safekeeping at a designated state or national bank. This Power of Attorney remains irrevocable as long as the employer’s election and obligations remain in force. The document must be signed and sealed by an authorized officer of the company, witnessed, and accompanied by proof of signing authority. The depository bank must also acknowledge receipt of the securities and confirm that they cannot be released without written authorization from GDOL. www.FormsWorkflow.com