S T A T E O F N E W Y O R K
________________________________________________________________________
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.