(1) An employee leasing company is exempt from the licensing requirements specified in s. 468.525 and from the fees specified in s. 468.526 if such company:
(a) Submits a properly executed request for registration and exemption on a form provided by the department;
(b) Is domiciled outside the state and is licensed or registered as an employee leasing company in its state of domicile or residence;
(c) Does not provide leased employees to a client whose business is located or domiciled in this state;
(d) Does not maintain an office in this state or solicit in any manner clients located or domiciled within this state; and
(e) Does not have more than 50 leased employees working in this state.
(2) A registration is valid for 1 year. Each registrant shall pay to the department upon initial registration, and upon each renewal thereafter, a registration fee to be established by the board in an amount not to exceed:
(a) Two hundred and fifty dollars for an employee leasing company.
(b) Five hundred dollars for an employee leasing company group.