287.037. Member of limited liability company to receive coverage, rejection of coverage, rescission of rejection. - Missouri Statutes

Member of limited liability company to receive coverage, rejection ofcoverage, rescission of rejection.

287.037. Notwithstanding any other provision of law to the contrary,beginning January 1, 1997, those insurance companies providing coveragepursuant to chapter 287, to a limited liability company, as defined in section347.015, RSMo, shall provide coverage for the employees of the limitedliability company who are not members of the limited liability company.Members of the limited liability company, as defined in section 347.015, RSMo,shall also be provided coverage pursuant to chapter 287, but such members mayindividually elect to reject such coverage by providing a written notice ofsuch rejection on a form developed by the department of insurance, financialinstitutions and professional registration to the limited liability companyand its insurer. Failure to provide notice to the limited liability companyshall not be grounds for any member to claim that the rejection of suchcoverage is not legally effective. A member who elects to reject suchcoverage shall not thereafter be entitled to workers' compensation benefitsunder the policy, even if serving or working in the capacity of an employee ofthe limited liability company, at least until such time as said memberprovides the limited liability company and its insurer with a written noticewhich rescinds the prior rejection of such coverage. The written notice whichrescinds the prior rejection of such coverage shall be on a form developed bythe department of insurance, financial institutions and professionalregistration. Any rescission shall be prospective in nature and shall entitlethe member only to such benefits which accrue on or after the date the noticeof rescission form is received by the insurance company.

(L. 1996 H.B. 1368 § 1)