Click here for table SB 199

The California Legislature introduced Senate Bill 189 (SB189) and it is scheduled to take effect for new and renewal policies effective on or after July 1st, 2018. Changes relating to SB189 cannot be made during the policy term.

For partnerships and LLC’s, the general partners or managing members’ ownership interest may now be held in a revocable trust. And for corporations, the ownership threshold for waiving workers’ compensation coverage was amended from 15% to 10% and the shares may now be held in a revocable trust. There are also new, specific, waiving provisions for professional corporations, cooperative corporations, and closely-held family businesses.

Action Required:

For owners who are now eligible for exclusion under SB189 and would like to elect exclusion on their policy, please return the new SB189 carrier-specific waiver forms at the time of new business or renewal.

Leave a Reply

Your email address will not be published.

wp-puzzle.com logo