Volume 794, Page 3926 View pdf image |
S.B. 141 VETOES Section 9-508 Annotated Code of Maryland (1991 Volume and 1995 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF Article - Labor and Employment 9-206. (a) Subject to subsection (b) of this section, an officer of a corporation or a (b) An individual who otherwise would be a covered employee under this section (1) the individual is an officer of a close corporation, as defined in § (2) the individual: (i) is an officer of a corporation that earns at least 75% of its income (ii) owns at least 20% of the outstanding capital stock of the (3) the individual: (i) is an officer of a professional corporation, as defined in § 5-101(d) (ii) owns at least 20% of the outstanding capital stock of the (iii) performs for the corporation a professional service, as defined in § (4) The individual: (i) is a member of a limited liability company; and (ii) owns at least 20% of the outstanding interests in profits of the (c) (1) A corporation or limited liability company shall submit to the (2) An election under subsection (b)(1) or (b)(4) of this section is not - 3926 -
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Volume 794, Page 3926 View pdf image |
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