MA Exempts Corp Officers From Comp Requirements

Massachusetts Governor Jane Swift signed into law on July 25, 2002 House Bill 4348 (Chapter 169 of the Acts of 2002) which allows certain corporate officers to exempt themselves from workers' compensation insurance coverage, and also allows sole-proprietors and partnerships to obtain workers' compensation insurance at their choosing. In short, a corporate officer who owns no less than 25% of issued and outstanding stock of said corporation will be allowed to exercise this exemption by completing an affidavit and submitting it to the Department of Industrial Accidents (DIA). As this bill will...