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NY A06932
Bill
Status
Engrossed
6/17/2014
Primary Sponsor
Phillip Steck
Click for details
AI Summary
- Expands shareholder liability for unpaid wages to include foreign corporations when unpaid services were performed in New York State
- The ten largest shareholders of affected corporations become jointly and severally personally liable for all wages or salaries owed to laborers, servants, or employees
- Exempts investment companies registered under the federal Investment Company Act of 1940 and corporations with shares listed on national securities exchanges or regularly quoted in over-the-counter markets
- Requires employees to provide written notice to shareholders within 180 days of service termination (or within 60 days if they request to examine shareholder records) before holding them liable
- Takes effect 60 days after becoming law
Legislative Description
Relates to the applicability of provisions relating to liability of shareholders for wages due to laborers, servants or employees for certain foreign corporations.
Last Action
REFERRED TO RULES
6/17/2014
Committee Referrals
Rules6/17/2014
Rules6/3/2014
Codes3/4/2014
Corporations, Authorities and Commissions1/8/2014
Rules6/17/2013
Codes6/11/2013
Corporations, Authorities and Commissions4/25/2013
Full Bill Text
No bill text available