S T A T E   O F   N E W   Y O R K
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                                  2869

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 21, 2009
                               ___________

Introduced  by  M.  of  A. SCHIMMINGER -- Multi-Sponsored by -- M. of A.
  CHRISTENSEN, DelMONTE, GALEF, KOLB, MAGEE, SWEENEY --  read  once  and
  referred to the Committee on Labor

AN  ACT  to  amend  the workers' compensation law, in relation to one to
  three person corporations

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraphs  d and e of subdivision 6 of section 54 of the
workers' compensation law, paragraph d as amended  and  paragraph  e  as
added  by  chapter  205  of  the  laws  of  1993, are amended to read as
follows:
  d. Any [two] THREE executive officers of  a  corporation  who  at  all
times  during  the  period  involved [between] AMONG them own all of the
issued and outstanding stock  of  the  corporation  and  hold  all  such
offices, provided, however that each officer must own at least one share
of  stock,  who  are  the  executive officers of such corporation having
other persons who are employees required to be covered under this  chap-
ter  shall  be  deemed  to  be  included  in  the compensation insurance
contract or covered under a certificate of self-insurance unless [one or
both the] ANY OF SUCH officers [elect] ELECTS to be  excluded  from  the
coverage of this chapter. Such election shall be made by any such corpo-
ration  BY  filing  a  form prescribed by the [chair] CHAIRPERSON of the
[workers' compensation] board with the insurance carrier or the  [chair]
CHAIRPERSON  in the case of self-insurance giving notice that the corpo-
ration elects to exclude [one or both of] the executive officers of such
corporation named in the notice from the coverage of  this  chapter  WHO
HAVE  SO  ELECTED  TO BE EXCLUDED. Such election shall be effective with
respect to all policies issued to such  corporation  by  such  insurance
carrier  as  long  as  it  shall continuously insure the corporation and
shall be final and binding upon the executive officers as named  in  the
notice until revoked by the corporation. If such election is revoked, it

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03809-01-9
              

A. 2869                             2

shall  be in writing on a form prescribed by the [chair] CHAIRPERSON and
shall be filed with the [chair] CHAIRPERSON and the  insurance  carrier.
Such  revocation  shall  not  be  effective until thirty days after such
filing.
  e.  Any  [two]  THREE  executive  officers of a corporation who at all
times during the period involved [between] AMONG them  own  all  of  the
issued  and  outstanding  stock  of  such  corporation and hold all such
offices, provided, however that each officer must own at least one share
of stock, who are the executive officers of such corporation that has no
other persons who are employees required to be covered under this  chap-
ter  shall  be  deemed  to  be excluded from coverage under this chapter
unless [one or both] ANY OF SUCH officers [elect] ELECTS to be  covered.
Such  coverage  may  be effected by obtaining an insurance policy or, in
the case of self-insurance, by the  corporation  BY  submitting  a  form
prescribed  by  the  [chair]  CHAIRPERSON of the [workers' compensation]
board, giving notice that the corporation elects to bring [one or  both]
THE  executive  officers  of such corporation named in the notice within
THE coverage of this chapter WHO HAVE SO ELECTED TO BE INCLUDED.
  S 2. This act shall take effect on the first of January next  succeed-
ing the date on which it shall have become a law.