• Creating a Texas business structure.

a. Describe the process for establishing your company as a sole proprietor.

b. Describe the process for establishing your company as a sole LLC.

*Be sure to include a discussion of PSB forms needed, Texas Secretary of State and Comptroller issues, etc.

https://www.dps.texas.gov/section/private-security/forms

• Insurance requirements. Identify, list and describe the insurance requirements of a licensed company.
• Contact two agencies that provide insurance in Texas. Upon contacting them, identify yourself and inform them that you are a PDI Student (you may have to let them know what PDI is). Tell them you are conducting a homework assignment and are required to research insurance rates (premiums) for your company. Determine the difference in insurance coverage for 1) your company when you are insuring just yourself (no registrants/employees), and 2) your company with you and 1-5 /registrants/employees.
• Thoroughly define what a "Manager" is and identify qualifications required.
• Is a written report required for every investigation you conduct for a client?
• Is a contract required between a client/customer and the licensed company? If so, what is required?
• What are the DPS/PSB restrictions/guidelines for advertising?
• What are the continuing education (CE) requirements for PIs and managers with less than 15 years of experience? What happens if the requirements are not met? What is the retention period for CE records?
• How long is a pocket card issued to a registrant valid? How long is a license valid?
• Describe in detail the role of an owner manager.
• Define "Registrant".
• We discussed "employee" and "independent contractors". Is a "registrant" an employee or independent contractor or both?