Colorado § 8-41-202 Rejection of coverage by corporate officers and others

Colorado Statutes

§ 8-41-202 — Rejection of coverage by corporate officers and others

Colorado·Title 08 Labor and·Art. Coverage and Liability

(1)Notwithstanding any provisions of articles 40 to 47 of this title to the contrary, a corporate officer of a corporation or a member of a limited liability company may elect to reject the provisions of articles 40 to 47 of this title. If so elected, said corporate officer or member shall provide written notice on a form approved by the division through a rule promulgated by the director of such election to the worker's compensation insurer of the employing corporation or company, if any, by certified mail. If there is no workers' compensation insurance company, the notice shall be provided to the division by certified mail. Such notice shall become effective the day following receipt of said notice by the insurer or the division.

(2)A corporate officer's or member's election

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(1)
Notwithstanding any provisions of articles 40 to 47 of this title to the contrary, a
corporate officer of a corporation or a member of a limited liability company may
elect to reject the provisions of articles 40 to 47 of this title. If so elected, said
corporate officer or member shall provide written notice on a form approved by the
division through a rule promulgated by the director of such election to the worker's
compensation insurer of the employing corporation or company, if any, by certified
mail. If there is no workers' compensation insurance company, the notice shall be
provided to the division by certified mail. Such notice shall become effective the
day following receipt of said notice by the insurer or the division.

(2) A corporate officer's or member's election to reject the provisions of
articles 40 to 47 of this title shall continue in effect so long as the corporation's or
company's insurance policy is in effect or until said officer or member, by written
notice to the insurer, revokes the election to reject said provisions.

(3) Nothing in this section shall be construed to limit the responsibility of
corporations or limited liability companies to provide coverage for their employees
as required under articles 40 to 47 of this title. An election to reject coverage
pursuant to this section may not be made a condition of employment.

(4) For the purposes of this section:

(a) Corporate officer means the chairperson of the board, president, vice-president, secretary, or treasurer who is an owner of at least ten percent of the
stock of the corporation and who controls, supervises, or manages the business
affairs of the corporation, as attested to by the secretary of the corporation at the
time of the election.

(b) Member means an owner of at least ten percent of the membership
interest of the limited liability company at all times and who controls, supervises, or
manages the business affairs of the limited liability company.

Colorado § 8-41-202 (Rejection of coverage by corporate officers and others) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 90: Entire article R&RE, p. 477, � 1, effective July 1. L. 93: Entire section amended, p. 386, � 1, effective April 19. L. 96: (1) and (4) amended, p. 646, � 1, effective May 1.