Maine Revised Statutes Title 24-A Sec. 2385-E – Workers’ compensation insurance; registration of employee leasing companies
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Terms Used In Maine Revised Statutes Title 24-A Sec. 2385-E
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A corporation, partnership, sole proprietorship or other business entity that provides staff, personnel or employees to be employed in the State to other businesses pursuant to a lease arrangement or agreement must, before becoming eligible to be issued a policy of workers’ compensation insurance, register with the superintendent pursuant to Title 32, chapter 125. Employee leasing companies are subject to rules applicable to workers’ compensation insurance as adopted by the superintendent and to penalties as defined in Title 32, section 14058. [PL 1991, c. 885, Pt. B, §12 (NEW); PL 1991, c. 885, Pt. B, §13 (AFF).]
SECTION HISTORY
PL 1991, c. 885, §B12 (NEW). PL 1991, c. 885, §B13 (AFF).