New Law Reduces Ownership Requirement for Coverage Exemption

| posted in Blog

A new law taking effect this year aims to ease the confusion caused by the implementation of new rules that define what constitutes an owner or officer who is exempt from having to carry workers’ compensation coverage. The new law, which was in the form of SB 189, last year once again changed the definition of employees and the permissible exclusions for workers’ comp purposes. Current law excludes from the definition of employee: • An officer or member of the board of directors of a quasi-public or private corporation who owns at least 15% of the issued and outstanding stock…
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