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NY S07897

Bill

Official Source

Status

Introduced

6/17/2014

Primary Sponsor

Kevin Parker

Click for details

Origin

Senate

2013-2014 General Assembly

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 a corporation (domestic or foreign) are jointly and severally liable for wages owed to laborers, servants, or employees, excluding investment companies registered under the Investment Company Act of 1940 and publicly-traded corporations
  • Requires employees to provide written notice to shareholders within 180 days of service termination (or within 60 days after examining shareholder records) before pursuing liability claims
  • Limits lawsuits to 90 days after a judgment against the corporation is returned unsatisfied
  • Becomes effective 60 days after enactment

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

Full Bill Text

No bill text available